Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth 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 success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
