Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
