Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes 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 governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
