Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
