Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the individual standings 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 won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
