Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
