Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
