Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 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 has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
