Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 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.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
