Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
