Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
