Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the growth 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 Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
