Toto Wolff is 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 an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
