Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two 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 record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
