Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's 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 for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
