Toto Wolff has made a significant move in his long-standing partnership with Mercedes-AMG Formula One team, selling 15% of his stake to American billionaire George Kurtz. The transfer will see Kurtz join the team's ownership group and take on a technology advisor role.
Kurtz, the founder of cybersecurity firm CrowdStrike, has been a Mercedes partner since 2019. His acquisition brings him a five percent share in the team, alongside an equal one-third stake held by Mercedes-Benz and Ineos. This deal has valued the Mercedes F1 team at a record £4.6 billion.
While Kurtz will not be sitting on the main board, he will serve as a member of the strategic steering committee alongside Toto Wolff, Ola Kallenius, Sir Jim Ratcliffe, and other key stakeholders. The committee is responsible for discussing issues related to the team's performance and direction.
Wolff has expressed his support for Kurtz, stating that his background in racing, sports ambassadorship, and entrepreneurship makes him an ideal candidate to contribute to the team's growth. Kurtz himself believes that Formula One is at a critical juncture, with significant investment potential and opportunities for growth.
The deal marks an important shift in the Mercedes F1 team's ownership structure, as Wolff will retain his roles as team principal and CEO while Kurtz brings new expertise to the table. With this move, Formula One fans can expect continued success and innovation from the iconic team.
Kurtz, the founder of cybersecurity firm CrowdStrike, has been a Mercedes partner since 2019. His acquisition brings him a five percent share in the team, alongside an equal one-third stake held by Mercedes-Benz and Ineos. This deal has valued the Mercedes F1 team at a record £4.6 billion.
While Kurtz will not be sitting on the main board, he will serve as a member of the strategic steering committee alongside Toto Wolff, Ola Kallenius, Sir Jim Ratcliffe, and other key stakeholders. The committee is responsible for discussing issues related to the team's performance and direction.
Wolff has expressed his support for Kurtz, stating that his background in racing, sports ambassadorship, and entrepreneurship makes him an ideal candidate to contribute to the team's growth. Kurtz himself believes that Formula One is at a critical juncture, with significant investment potential and opportunities for growth.
The deal marks an important shift in the Mercedes F1 team's ownership structure, as Wolff will retain his roles as team principal and CEO while Kurtz brings new expertise to the table. With this move, Formula One fans can expect continued success and innovation from the iconic team.
just thinkin bout toto wolff sellin 15% of his stake... that's like lettin someone else share the reins 
it's a big move, but also kinda smart. seein new blood comin in can be a game changer. plus, george kurtz got some solid cred under his belt - crowdstrike and all that 
so i think this partnership is gonna take mercedes f1 to new heights. the thing is, it's not just about the benjamins... it's about findin someone who shares your vision and can help you grow 
! This partnership with George Kurtz sounds like a match made in heaven, his experience in racing and sports can definitely bring some fresh air to the team 
. It's amazing how Formula One has grown over the years, £4.6 billion valuation is insane 
. I'm really excited to see what the future holds for this iconic team, with Kurtz on board, I think they'll only get better and push their way to even more wins 
but you gotta love the fact that George Kurtz is bringing his cybersecurity skills to F1 - maybe they can help keep the drivers' personal info safe while we're watching them go 200mph 
and I'm curious to see how this new dynamic will play out between Toto Wolff and George Kurtz, maybe it'll lead to some fresh ideas for the team's tech and strategy 
. And let's be real, £4.6 billion is a LOT 
. But for real, with Kurtz on board, I think we can expect some fresh ideas and innovation from Mercedes-AMG F1 
). The potential for growth is huge, and I'm hyped to see where this new partnership takes them! 
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toto wolff is still gonna be in charge tho but it's cool that george kurtz is bringing some new blood to the table 
i mean crowdstrike is like super popular in cybersecurity space so i guess his tech expertise is gonna make a big difference 
. They've been struggling for a while now, and it'll take more than just a fresh investor to turn things around 
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. It could bring some much-needed innovation to the table, especially with F1 being a sport where tech plays such a huge role 
Toto Wolff seems to trust him too 
his background in racing, sports, and entrepreneurship is solid 
so fingers crossed for more success on the track 
I mean, I guess it's cool that he's bringing in some new tech expertise, but 5% share? That's like, a drop in the ocean for what Mercedes just sold off. And £4.6 billion? 
. As Kurtz takes on a technology advisor role, it's intriguing to see how his cybersecurity background will influence the team's performance and innovation trajectory 
. The fact that Wolff retains key roles while Kurtz brings fresh perspectives bodes well for the team's future success 
. With Formula One at a critical juncture, this partnership could be just what the sport needs to stay competitive 
this deal marks a major shift in ownership, but i'm all about it - can't wait to see what new innovations come out of this partnership 