Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth 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 F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
