Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – 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 holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
