Mercedes Formula 1 boss Toto Wolff has sold a portion of his shareholding to U.S. billionaire George Kurtz, in a deal that values the team at $6bn (£4.6bn) — a record valuation for an F1 outfit.
Kurtz, founder of cybersecurity company CrowdStrike and a long-time Mercedes sponsor, purchased 15% of Wolff’s holding company stake, equivalent to 5% of the team. Wolff will receive about $300m (£230m) from the sale and will remain team principal and CEO. The team’s overall governance structure will remain unchanged.
Kurtz, whose investment comes from his personal funds, said the valuation aligns with global sports trends and reflects F1’s growth. He will join the team’s strategic steering committee, which includes Wolff, Mercedes chair Ola Källenius and Ineos chair Sir Jim Ratcliffe.
Wolff welcomed the move, noting Kurtz’s mix of racing experience and technology expertise as valuable for F1’s future direction.
The deal underscores how sharply team valuations have climbed in recent years. Mercedes’ new valuation represents more than a sevenfold increase since Ineos acquired its one-third stake for £208m in 2020. Comparable valuations include McLaren at £3.5bn and Ferrari at around $6.5bn (£5bn).
F1’s popularity surge — boosted by the Netflix series Drive to Survive, new U.S. races, and global sponsorship growth — has fuelled rising team values. The success of the recent Brad Pitt F1 film, which grossed more than $630m (£482m), has further amplified interest.
Mercedes currently sit second in the constructors’ standings with three races remaining. Driver George Russell has won two races this season and is fourth in the drivers’ championship.
Kurtz said he expects team valuations to climb further as F1’s U.S. presence expands, suggesting the sport could approach NBA or NFL-level valuations over time.
Mercedes earns revenue from sponsorships, licensing, prize money and technical partnerships. The cost cap introduced in 2021 has also made financial planning more predictable, contributing to rising valuations across the grid.
Forbes estimates Cadillac’s expected entry next season will push valuations even higher.
Featured image credits: Wikimedia Commons
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