Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We will be making no official statement on this. 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 substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
