Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport 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 earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
