Toto Wolff, CEO and team principal of Mercedes-AMG Petronas Formula One, is bringing a new minority owner into the team as part of an expansion of its long-running partnership with cybersecurity firm CrowdStrike.
The team confirmed Thursday that CrowdStrike founder and CEO George Kurtz has acquired a stake in the ownership entity controlled by Wolff.
The move deepens the relationship between the two organisations, which have collaborated since 2019, and adds another major tech figure to the sport’s growing investor base.
Financial details were not officially disclosed. However, a person familiar with the agreement told CNBC the deal values the Mercedes Formula One team at $6 billion.
The purchase gives Kurtz a 5% share, as his 15% acquisition applies to Wolff’s one-third ownership block.
The remaining two-thirds remain split evenly between Mercedes-Benz and INEOS.
“You have all these new fans coming in,” Kurtz said.
“The reason why CrowdStrike is involved in Formula One is [because] there is a return… We perfected that, and we want to bring that to the United States, to the tech market, and have other partnerships that can exploit that and make the best of Formula One.”
As part of the investment, Kurtz will become a technology advisor to the team.
He will support Mercedes’ increasing use of advanced data analytics, simulation tools and AI-driven engineering — areas that are becoming central to modern Formula One development.
Kurtz will also join a governance committee that includes Mercedes-Benz CEO Ola Källenius, INEOS founder Jim Ratcliffe and Wolff.
The team said that governance structures will not change as a result of the deal.
Unlike many billionaire investors entering Formula One, Kurtz is a highly active competitor.
He has won major endurance races such as the 24 Hours of Le Mans, Petit Le Mans, the Six Hours of the Glen and the Indianapolis 8 Hour, and secured multiple titles in 2023.
His dual background in high-performance tech and high-performance motorsport makes him a distinctive addition to F1 ownership circles.
Mercedes dominated the hybrid era from 2014 to 2021, winning eight consecutive constructors’ championships.
But the team has slipped behind Red Bull and McLaren in recent seasons, and has been looking for ways to accelerate development.
A new regulatory cycle beginning in 2026 — which includes a 50% electric engine formula and fully sustainable fuel — has raised expectations that the competitive order could shift again.
“We’re the only sport that combines the cutting-edge technology, science and the gladiator in the car and the people’s business,” Wolff said.
He added that next season’s engineering challenge is enormous, saying, “We will be having an engine that is 50% electric with 100% sustainable fuel, a car that will generate its downforce while, at the same time, maximum downforce, while at the same time trying to save, you know, some of the electric energy.”
Formula One continues to expand its U.S. presence, driven by Netflix’s Drive to Survive, Apple’s “F1: The Movie,” three U.S. races and the arrival of a Cadillac-backed entry next year.
The combination of audience growth and technology-heavy engineering has made F1 increasingly attractive to investors from Silicon Valley and beyond.
Mercedes hopes the addition of Kurtz will help strengthen its global tech network as the sport moves deeper into an era defined by data, simulation and AI.
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