Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
