Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver 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's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
