Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
