Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
