Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. Kurtz, the founder and CEO of cybersecurity company Crowdstrike and a sponsor of Mercedes F1, has acquired a minority share from team principal Toto Wolff.
Wolff’s ownership group retains a one-third stake in the team, and he will continue to serve as team principal and CEO. A spokesperson for Mercedes confirmed that the team’s governance structure will remain unchanged. However, Kurtz will now join Wolff, Mercedes-Benz chief Ola Kallenius, and INEOS head Sir Jim Ratcliffe on the team’s strategic steering committee.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a dedicated Mercedes-AMG sporting ambassador, and a successful entrepreneur. Kurtz’s unique blend of racing experience and technology business expertise is seen as valuable for the future of Formula 1.
Kurtz has acquired a 15 percent stake in Wolff’s portion of Mercedes F1 ownership, amid reports suggesting a substantial nine-figure fee for the sold stake, potentially valuing the team at around £4.5 billion. Besides his business achievements, Kurtz is also an accomplished racing driver, with notable victories at endurance events like the 24 Hours of Le Mans and other prestigious circuits.
In addition to his role as co-owner at Mercedes, Kurtz will provide technology advisory services to the team. He emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, highlighting the significance of technology in enhancing competitive advantage.
The ownership structure of Mercedes F1 now sees equal division among three primary stakeholders. Wolff, in partnership with Kurtz, controls 33.3 percent, matching the ownership stakes held by Ratcliffe and the Mercedes-Benz Group based in Germany.
Formula 1 enthusiasts can now enjoy live coverage of every practice, qualifying session, and race with Sky’s new Essential TV and Sky Sports bundle, offering savings of £192. This package also includes access to around 100 TV channels, along with complimentary subscriptions to Netflix and Discovery+.
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