Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
