Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.