Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – 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 owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on this. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
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 cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.