Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
