Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old 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 Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
