Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver 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 secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
