Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
