Mercedes Formula 1 team principal Toto Wolff has entered advanced negotiations to sell a portion of his majority stake in the championship-winning team at a record $6 billion valuation. The announcement immediately sparked speculation across the paddock regarding the buyer’s identity, with multiple reports suggesting Red Bull team principal Christian Horner as a potential candidate.
However, the mystery buyer has since been revealed, adding an intriguing dimension to Mercedes’ future governance structure.
Mercedes’ Record Valuation and the Real Buyer
Wolff, who currently maintains a 33% shareholding in Mercedes alongside Mercedes-Benz Group and Ineos owner Sir Jim Ratcliffe, has negotiated to divest approximately five percent of his stake in what represents a watershed moment for Formula 1 valuations.
The transaction values the entire Mercedes operation at $6 billion, a remarkable appreciation from the roughly $165 million Wolff invested when he acquired his initial stake in 2013.
The buyer is George Kurtz, the co-founder and chief executive officer of cybersecurity powerhouse CrowdStrike, which has maintained a long-standing partnership with the brand dating back to 2009. Kurtz, born October 14, 1970, brings substantial motorsport credentials to the partnership, holding an FIA Bronze racing license and boasting an extensive competitive racing background across multiple international series.
It’s long time Mercedes partner @CrowdStrike‘s co-founder and CEO, George Kurtz.
Kurtz loves racing. Notably, he has class wins at the 24 Hours of Le Mans, the Indianapolis 8-Hour, the 4 Hours of Sepang and Petit Le Mans. https://t.co/WbXbm8YNr7
— Vincenzo Landino (@vincenzolandino) November 11, 2025
His achievements include winning the LMP2 Pro-Am class at the 24 Hours of Le Mans in 2023 alongside Colin Braun, securing victory in the Michelin Endurance Cup championship during its inaugural LMP2 season, and earning class wins at the 4 Hours of Sepang and the Indianapolis 8-Hour endurance races, along with success at Petit Le Mans.
Christian Horner Speculation and What It Reveals About F1’s Transfer Market
The narrative surrounding Horner’s potential involvement in acquiring Mercedes equity emerged merely two days before Kurtz’s identity became public.
Reports circulating across the paddock indicated that Horner had undertaken visits to prospective financial backers across the United States and the Middle East to acquire equity stakes in existing Formula 1 teams, which naturally fueled fan speculation on social media platforms that he might be positioning himself to become a stakeholder in Mercedes.
This timing aligned with broader discussions about Horner’s future direction following recent developments at Red Bull Racing, making the Kurtz announcement all the more unexpected for observers who had begun constructing narratives around the triple world-champion-winning team principal’s next career move.
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Despite the change in shareholding structure, Wolff will maintain his positions as team principal and head of Mercedes motorsport operations, with the organization confirming that all strategic governance structures remain unchanged and that all three partners continue to express unwavering commitment to the team’s competitive objectives.
The team’s cumulative Advertising Value Equivalent reached $5.7 billion in 2024, reflecting improved on-track performance that included four race victories and five additional podium finishes throughout the season.
From a championship perspective, Mercedes dominated the constructors’ championship from 2014 through 2021, securing eight consecutive titles during this historically dominant period, though the team has not claimed the championship since 2021.
