Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
