Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
