Mercedes team principal Toto Wolff has completed a landmark deal that reshapes the financial landscape of Formula 1, selling a significant portion of his ownership stake in the Mercedes-AMG Petronas Formula One Team. The transaction values the team at an extraordinary £4.6bn ($6bn) — the highest valuation ever recorded for an F1 outfit and a clear sign of the sport’s explosive global growth.
American Billionaire George Kurtz Buys Into Mercedes F1
The buyer is George Kurtz, a 55-year-old American entrepreneur best known as the founder and CEO of cybersecurity giant CrowdStrike, one of Mercedes’ long-standing commercial partners. Kurtz’s purchase demonstrates both his personal passion for motorsport and his confidence in Formula 1’s booming commercial appeal.
Wolff sold 15% of his holding company’s stake, equivalent to 5% of the entire team, realizing a personal return of £230m ($300m). Importantly, he remains committed to his leadership role, continuing as the team’s principal and CEO, ensuring Mercedes’ sporting and operational structures remain unchanged.
Kurtz emphasized that the money came from his own personal wealth, not via CrowdStrike, and described the valuation as “in line with global sports trends,” referencing the rising valuations across major leagues and franchises.
Why Mercedes F1 Is Now Worth £4.6bn
The valuation marks a sevenfold increase since 2020, when chemical giant INEOS purchased a one-third stake for just £208m. Since then, Formula 1 has undergone a dramatic surge in commercial value thanks to:
- Global expansion of the sport
- The Netflix Drive to Survive effect
- Strong growth in the US market
- Stable revenues under the cost-cap era
- Long-term sponsorship and media deals
- Greater demand for franchise-style F1 team ownership
McLaren recently recorded a valuation of £3.5bn, but Mercedes now sits near the top of the sport’s financial hierarchy, second only to Ferrari’s estimated £5bn value.
Kurtz Takes a Seat at Mercedes’ Strategic Steering Committee
Although Kurtz will not join the team’s formal board, he will participate in high-level strategic discussions alongside:
- Toto Wolff
- Sir Jim Ratcliffe (INEOS chairman)
- Ola Källenius (Mercedes Group chairman)
This group determines major long-term decisions relating to the F1 team’s direction.
Kurtz downplayed his role, describing it as “a seat at the table” to offer insight rather than operational control.
Wolff Praises Kurtz’s Racing and Business Expertise
Toto Wolff called Kurtz an “exceptional entrepreneur” whose combination of racing and business experience makes him uniquely prepared to contribute to the team’s future.
Kurtz is both a businessman and an active endurance racer with Mercedes-AMG, making him a rare figure who understands both the sporting and commercial sides of Formula 1. Wolff believes this perspective will be increasingly valuable as F1 expands into new territories and technologies.
The Broader Boom in F1 Team Valuations
Mercedes’ valuation is another example of Formula 1’s transformation into one of the fastest-growing global sports properties.
Recent drivers for the surge include:
1. Explosive US Market Growth
- Three American races: Austin, Miami, Las Vegas
- The ongoing cultural impact of Netflix
- Rising US investor interest in teams and infrastructure
Kurtz said his investment reflects his belief that F1 could reach NFL- or NBA-level valuations in the near future.
2. The Cost Cap Era (Since 2021)
The cost cap has made team spending more predictable, creating a stable operating model similar to US sports franchises and attracting major investors.
3. Blockbuster Commercial Success
The 2024 release of the Brad Pitt F1 movie — which grossed over £482m ($630m) globally — heightened visibility and helped propel the sport further into mainstream entertainment.
4. Long-Term Commercial Security
Teams benefit from:
- F1 prize money
- Licensing deals
- Sponsorships
- Technical partnerships
- Component sales (Mercedes supplies gearboxes to Williams and Aston Martin)
Mercedes’ Current Performance on Track
On the sporting side, Mercedes are having a competitive season, currently sitting second in the Constructors’ Championship with three races remaining.
Lead driver George Russell has delivered two victories this year and sits fourth in the Drivers’ Championship behind:
- Lando Norris
- Oscar Piastri
- Max Verstappen
The team hopes to continue building momentum at the upcoming Las Vegas Grand Prix.
How Mercedes Stacks Up Against Other Major Sports Franchises
In financial terms, the team’s valuation places it:
- Slightly below Manchester United
- Slightly above Liverpool FC
- In the same bracket as elite non-US sports organizations
US-based franchises, especially in the NFL, continue to dominate with even higher valuations, but F1’s rapid commercial growth is starting to close the gap.
Looking Ahead: The Future of F1 Team Valuations
Forbes predicts that the arrival of Cadillac/General Motors as an F1 entrant next year will push valuations even higher. As the sport continues to grow globally, investors see F1 teams not just as sporting assets but as long-term, highly profitable entertainment brands.
Wolff’s sale — and Kurtz’s willingness to buy at a record price — underscores a powerful message:
Formula 1 is no longer just a racing series; it is a global business empire still in the early stages of its commercial peak.
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