Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of ownership structure last 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 if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
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 in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
