Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.