Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. The founder and CEO of Crowdstrike, a cybersecurity company that sponsors Mercedes F1, has purchased a minority share in the team led by Toto Wolff.
Wolff’s ownership group retains a one-third stake in the team, and he will continue to serve as both team principal and CEO. A Mercedes spokesperson confirmed that the team’s governance structure will remain unchanged, with Kurtz joining the strategic steering committee alongside Wolff, Mercedes-Benz head Ola Kallenius, and INEOS chief Sir Jim Ratcliffe.
Wolff commended George’s diverse background, highlighting his experience in racing, his role as a Mercedes-AMG sporting ambassador, and his entrepreneurial skills. He emphasized that George’s insights into racing and technology businesses are valuable for the future of Formula 1.
Kurtz has acquired a 15 percent stake in Wolff’s share of Mercedes F1, with reports suggesting that Wolff could receive a substantial sum for the sold stake, potentially valuing the team at around £4.5 billion. Besides his business success, Kurtz is also an accomplished racing driver, achieving victories at prestigious events like the 24 Hours of Le Mans and endurance races at various circuits.
In addition to his co-ownership role at Mercedes, Kurtz will take on a technology advisory position within the team. He expressed enthusiasm for contributing to the team’s progress in racing and cybersecurity, emphasizing the importance of speed, precision, and innovation in both fields.
The ownership structure of Mercedes F1 now sees equal ownership among three main entities: Wolff, partnering with Kurtz, holds 33.3 percent, mirroring the stakes held by Ratcliffe and Mercedes-Benz.
Sky has enhanced its Ultimate TV and Sky Sports package to include popular streaming services like HBO Max, Netflix, Disney+, discovery+, and Hayu, along with 135 channels and comprehensive coverage of Formula 1 races. Sky offers exclusive broadcasting of Formula 1 events, including practices, qualifiers, and races, alongside coverage of other sports leagues like the Premier League, EFL, darts, and golf.