Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
