Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.