Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
