Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
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
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
