Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
