Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values 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 ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
