Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
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 (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
