Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
