Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
