Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
