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 – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
