Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
