Toto Wolff is in final negotiations 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 a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
