Toto Wolff is engaged in final negotiations to offload 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 McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
