Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
