Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We are providing no official statement on this. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
