Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
