Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no comment on this. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings after 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 for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
