Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
