Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
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 will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
