Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
