Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
