Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
