Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
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 stated: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
