Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
