Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We will be making no comment on this. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
