Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
