Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
