Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
