Wolff to Sell 5% Mercedes F1 Stake to Kurtz for 6B Valuation

Toto Wolff, the team principal and CEO of the Mercedes-AMG Petronas Formula 1 Team, is in advanced discussions to sell approximately 5 percent of his one-third ownership stake to George Kurtz, the co-founder and CEO of cybersecurity firm CrowdStrike. The transaction, which would be conducted through Wolff's personal holding company, is expected to value the Brackley-based team at a record around 6 billion, surpassing previous benchmarks set by other Formula 1 outfits.

The deal marks a significant milestone for the eight-time constructors' champions, highlighting the sport's surging commercial appeal. Kurtz, a longtime Mercedes partner through CrowdStrike's sponsorship and an amateur racer with experience in endurance series like IMSA and Le Mans, would acquire the minority interest without altering the team's core ownership structure. Mercedes-Benz, Wolff, and INEOS would continue to hold equal one-third shares, with Wolff retaining his leadership roles and the bulk of his stake, reducing it only slightly to about 28 percent.

A Mercedes spokesperson emphasized the stability of the arrangement, stating, "The governance will remain unchanged, and all three partners are fully...