Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 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.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
