That is the claim of Germany's Auto Motor und Sport, explaining that the Briton's next move could be intricately tied up in negotiations to free Valtteri Bottas from his Williams contract to join the reigning champions.
"We hear that Lowe will not take the position of technical director (at Williams), but that of team boss," said Schmidt.
"Claire Williams would then take over from her father. Supposedly, Lowe also wants team shares," the Auto Motor und Sport correspondent added.
"Mercedes decided not to take a chance with its young drivers," former F1 driver Vitaly Petrov told Russian radio Sport FM.
"They had the option with Pascal Wehrlein, but why they did not take the risk, no one knows.
"But Valtteri Bottas is a good option for the team. It will not be easy to fight with (Lewis) Hamilton, and if the cars had remained the same it would be even harder.
"But with the new regulations, a new car, Bottas has a good chance of performing on par with Lewis," Petrov added.
Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.