Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
