Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
