Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
