McLaren Racing Takes Full Ownership of IndyCar Team
McLaren Racing has officially acquired full ownership of the Arrow McLaren IndyCar Team, solidifying its position in the North American open-wheel championship. The transfer of ownership was completed on December 31, 2024, marking the end of the buyout process from founders Ric Peterson and Sam Schmidt.
A Long Evolution
The Arrow McLaren IndyCar Team has undergone several transformations since its inception. Initially known as Schmidt-Peterson Motorsports, the team rebranded as Arrow McLaren SP in 2020 when McLaren purchased a 75% stake. Over the years, the team evolved further, eventually becoming Arrow McLaren in 2023, with Schmidt and Peterson retaining minority ownership until the end of 2024.
Zak Brown’s Vision
Zak Brown, CEO of McLaren Racing, emphasized the significance of this ownership change, highlighting the team’s commitment to expanding its presence in North America. Brown expressed his gratitude to the former owners for their partnership and dedication to building a championship-caliber team. He acknowledged the team’s growth and success under their leadership and looked forward to continuing that legacy.
Emotional Farewells
Sam Schmidt and Ric Peterson, the original co-owners, shared their sentiments about stepping away from the team. Schmidt described the transition as bittersweet, recognizing the team’s transformation from a dream to a top-tier competitor. Peterson reflected on the team’s achievements over the years, from rebranding to welcoming new partners and expanding their racing portfolio. Both owners expressed pride in the team’s accomplishments and optimism for its future success.
A Legacy of Excellence
The Arrow McLaren IndyCar Team has a rich history dating back to its formation as Sam Schmidt Motorsports in 2001. Over the years, the team has seen remarkable growth, securing podium finishes, wins, and championships. With a strong foundation and a legacy of excellence, the team is poised for continued success in the NTT IndyCar Series.
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