Toto Wolff is engaged in final negotiations to offload 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 – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
