Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
