Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver 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 constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
