F1 News
McLaren ramping up commitment to Indycar: Majority stake in team aqcuired
- GPblog.com
The McLaren racing team led by CEO Zak Brown doesn't only have grand ambitions in Formula 1, but in other racing classes as well. Recently, it made a new step towards a complete return to Indycar by increasing its stake in the Arrow McLaren Indycar team to 75%. McLaren is now its majority shareholder.
McLaren has bought out partner and co-owner Schmidt Peterson for a part, as McLaren itself announced on its official website. The price tag of this acquisition is not disclosed. With the purchase, there will also be an organizational shift; the board will be filled by three McLaren executives, as well as Sam Schmidt and Ric Peterson, founders of the team.
Brown pleased
"Today’s announcement is a strong signal of our long-term commitment to IndyCar as both a racing series and a marketing platform for McLaren Racing and our sponsor partners," Zak Brown revealed regarding the purchase.
The CEO continued: "McLaren Racing believes IndyCar will continue to build our brand in North America, serve our expanding US fan and partner base across our racing portfolio and drive long-term value. The racing is second-to-none, with world-class competitors in both drivers and teams and a passionate, highly engaged fanbase."