Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
