Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
