Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes 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 in 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 chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
