Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a 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 continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
