Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
