Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
