Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
