Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
