Toto Wolff is 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 £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
