Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued 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 stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
