Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
