Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
