Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
