Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell 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.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
