Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
