Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
