Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team 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, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, 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 the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
