Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
