Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos 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 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
