Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
