Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
