Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
