Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
