Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
