Mercedes-AMG Petronas F1 CEO and team principal Toto Wolff plans to sell part of his stake to the team and gain new team ownership. cloud strike Founder and CEO George Kurtz, executives told CNBC on Thursday.
Kurtz’s personal acquisition expands a partnership between the auto racing team and the software provider that began in 2019. It will also expand the technology industry’s global motorsports efforts. Financial terms of Kurz’s investment were not disclosed, but a person familiar with the matter told CNBC that the deal values the Mercedes team at $6 billion.
“We have a lot of new fans coming in,” Kurtz said. 「クラウドストライクがF1に関与している理由は、見返りがあるからです…私たちはそれを完成させ、それを米国やテクノロジー市場にもたらし、それを活用してF1を最大限に活用できる他のパートナーシップを築きたいと考えています。」
Mercedes announced on Thursday that Mr. Kurz had acquired a 15% minority stake in the ownership company controlled by Mr. Wolff. This is equivalent to one-third of the team, and Kurz’s stake will be 5%. mercedes benz Chemical giant INEOS also owns a third each.
British Mercedes driver George Russell races during the first practice session of the Las Vegas F1 Grand Prix on November 16, 2023 in Las Vegas, Nevada.
Angela Weiss | AFP | Getty Images
Kurz will become Mercedes F1’s technology advisor, helping the team expand its efforts in data analytics as the sport becomes increasingly technology-driven with a simulation-focused, AI-driven development process. He will join a committee that includes Mercedes-Benz CEO Ola Källenius, INEOS founder Jim Ratcliffe and Wolff. Team governance remains the same.
The team said Kurtz will also focus on expanding technology partnerships in the U.S. and around the world. CrowdStrike provides AI-powered protection for your team’s infrastructure.
Kurtz is unusual for a billionaire investor in that he is also a competitive racer. He has won major endurance events such as the 24 Hours of Le Mans, Petit Le Mans, 6 Hours of Glen, 8 Hours of Indianapolis, and multiple series titles in 2023.
The ownership change comes as Mercedes looks to claw its way back to the top of motorsport after falling behind McLaren and Red Bull in recent seasons. The team won the constructors’ title eight years in a row from 2014 to 2021, but has not won since then. Expectations are high for a turnaround due to regulations and engine reviews in 2026.
“We are the only sport that combines cutting-edge technology, science and automotive gladiators with the business of people,” Wolff said. “Next year in particular, these challenges that will befall us are huge. We will have a 50% electric engine using 100% sustainable fuel, a car that will generate downforce while at the same time trying to generate maximum downforce and at the same time save some of the electrical energy.”
The popularity of F1 in America continues to grow due to factors such as: Netflix “Drive to Survive” documentary series, apple’s The release of the blockbuster movie F1: The Movie, three U.S. races on the calendar and the addition of a Cadillac-sponsored team next year.
Disclosure: CNBC is a sponsor of the McLaren F1 racing team. Sarah Eisen is a member of the McLaren Advisory Board.
