Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. Kurtz, the founder and CEO of Crowdstrike, a cybersecurity firm that sponsors Mercedes F1, has acquired a minority share previously owned by team principal Toto Wolff.
Wolff’s group retains a one-third stake in the team, with him continuing as team principal and CEO. A spokesperson for Mercedes confirmed that the team’s leadership structure will remain unchanged. However, Kurtz will join Wolff, Ola Kallenius of Mercedes-Benz, and INEOS chief Sir Jim Ratcliffe on the team’s strategic steering committee.
Describing Kurtz’s background as diverse, Wolff highlighted his experience as a racer, Mercedes-AMG sporting ambassador, and successful entrepreneur. This unique blend of skills provides valuable insights crucial for the future of Formula 1.
Kurtz has secured a 15 percent ownership in Wolff’s stake in Mercedes F1, with reports suggesting a substantial nine-figure transaction that values the team at around £4.5 billion. Apart from his business acumen, Kurtz is an accomplished racing driver with notable victories at prestigious events like the 24 Hours of Le Mans and endurance races at Sebring, Watkins Glen, and Indianapolis.
In addition to his co-ownership role at Mercedes, Kurtz will also serve as a technology advisor. He expressed enthusiasm about leveraging speed, precision, and innovation in both racing and cybersecurity to drive progress securely.
The ownership structure of Mercedes F1 now sees three main stakeholders with equal shares. Wolff and Kurtz collectively control 33.3 percent, matching the stakes held by Ratcliffe and the Mercedes-Benz Group based in Germany.
Sky has enhanced its Ultimate TV and Sky Sports bundle by adding HBO Max, Netflix, Disney+, discovery+, and Hayu, along with 135 channels and comprehensive coverage of Formula 1. Sky’s coverage includes broadcasting all practice sessions, qualifiers, races, and exclusive content from various sports leagues.
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