Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
