Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.