Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
