Toto Wolff is in final negotiations to sell part of his shareholding 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 £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.