McLaren ramping up commitment to Indycar: Majority stake in team aqcuired

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.

"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."