Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the expansion in market values 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 F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
