Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
