Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, 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 Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place 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 driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
