Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
