Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
