Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal 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 one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after 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 drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.