Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
