Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
