Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
