Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
