Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
