Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
Eva de Vries is a passionate book lover and local writer from Eindhoven.
