Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
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 Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
