Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
