Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following 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, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
