Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 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's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
