Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
