Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
