Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
