Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.