Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
