Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised 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 shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
