Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
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 industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
