Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship 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 drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
