Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
