Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
