Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
