Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed 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 bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
