Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing 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 F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
