Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a 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 fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
