Mercedes has appointed American billionaire George Kurtz as their latest co-owner. Kurtz, the founder and CEO of cybersecurity company Crowdstrike and a sponsor of Mercedes F1, has purchased a minority share in team principal Toto Wolff’s ownership stake in the organization.
Wolff’s group will retain a one-third ownership of the team, with Wolff continuing in his roles as team principal and CEO. A spokesperson for Mercedes confirmed that the team’s management structure will remain unchanged. However, Kurtz will now be part of the team’s strategic steering committee alongside Wolff, Mercedes-Benz chief Ola Kallenius, and INEOS head Sir Jim Ratcliffe.
Wolff praised Kurtz, highlighting his diverse background as a racer, a trusted sporting representative for Mercedes-AMG, and a successful entrepreneur. According to Wolff, Kurtz’s experience in both racing and technology businesses brings valuable insights crucial for the future of Formula 1.
Kurtz has acquired a 15 percent stake in Wolff’s share of the overall ownership of Mercedes F1, reportedly valued at around £4.5 billion. In addition to his business achievements, Kurtz is a competitive racing driver, with notable victories at renowned endurance events like the 24 Hours of Le Mans and races at Sebring, Watkins Glen, and Indianapolis.
Apart from his new co-ownership role at Mercedes, Kurtz will also take on a technology advisory position within the team. Expressing his enthusiasm, Kurtz emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, underscoring the transformative impact of technology on competitive advantages in various fields, including motorsport.
Mercedes F1’s ownership is now evenly distributed among three main entities, with Wolff and Kurtz collectively holding a third of the ownership, matching the stakes owned by Ratcliffe and Mercedes-Benz Group.
Formula 1 enthusiasts can catch all live practice sessions, qualifiers, and races with Sky’s Essential TV and Sky Sports bundle, which includes access to around 100 TV channels, as well as complimentary subscriptions to Netflix and Discovery+.
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