Toto Wolff is engaged in advanced talks to offload a portion 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 McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million 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 trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two 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 Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
