Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
