Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
