Breaking: McLaren CEO Issues Statement on Team OWNERSHIP Transition...read more

Breaking: McLaren CEO Issues Statement on Team OWNERSHIP…read more

McLaren Racing has confirmed it has taken full ownership of Arrow McLaren, its IndyCar team, by acquiring the remaining shares held by co-founders Sam Schmidt and Ric Peterson. This marks a pivotal step in McLaren’s continued investment in North American motorsport and its ambitions to establish a dominant presence in the NTT IndyCar Series.

The deal concludes a partnership that began in 2020 when McLaren re-entered IndyCar by joining forces with Schmidt Peterson Motorsports, a team renowned for its resilience and competitiveness. The collaboration, underpinned by the title sponsorship of Arrow Electronics, transformed into Arrow McLaren SP and steadily built momentum as a competitive force on the grid.

McLaren Racing CEO Zak Brown paid tribute to Schmidt and Peterson for their foundational roles in the team’s journey.

“This acquisition underscores McLaren Racing’s commitment to the IndyCar Series and our belief in its future. Sam Schmidt and Ric Peterson have been instrumental in building this team from the ground up, and their vision and dedication have laid the foundation for the success we aim to achieve. On behalf of McLaren, I want to thank them for their partnership and contributions as we embark on this next chapter,” Brown said.

Brown emphasized that the acquisition will allow McLaren to fully integrate the IndyCar program into its broader global motorsport strategy, creating a more unified and cohesive structure. This includes aligning the team’s operations with McLaren’s Formula 1, Formula E, and Extreme E efforts.

Sam Schmidt, a former IndyCar driver who transitioned into team ownership after a career-ending crash in 2000, has been a key figure in the series for over two decades. His story of perseverance and success has inspired fans and competitors alike.

Ric Peterson, a Canadian businessman, joined forces with Schmidt in 2013, bringing additional resources and strategic guidance to the team. Together, the duo built a team capable of contending at the highest level, laying the groundwork for its partnership with McLaren.

In a joint statement, Schmidt and Peterson expressed pride in what they had achieved and confidence in McLaren’s ability to take the team to even greater heights.

“It’s been an incredible journey. From the early days to competing for wins and podiums, we’ve achieved so much together. We believe McLaren is the right organization to take this team forward, and we’re excited to see what the future holds,” they said.

Future Ambitions for Arrow McLaren
With McLaren now at the helm, the focus shifts to building on the team’s recent progress. The driver lineup for the 2024 season—featuring Pato O’Ward, Alexander Rossi, and Felix Rosenqvist—positions the team as a strong contender in the series. Additionally, the team recently announced the addition of Tony Kanaan in a leadership role, further bolstering its engineering and competitive capabilities.

The acquisition also signals McLaren’s belief in the growing global appeal of the NTT IndyCar Series. With its mix of historic venues, diverse track types, and a passionate fanbase, the series offers McLaren an opportunity to compete in a highly competitive and prestigious motorsport arena.

The full acquisition of Arrow McLaren further solidifies McLaren Racing’s strategy of expanding its footprint beyond Formula 1. In recent years, the organization has diversified its operations with entries in Formula E, Extreme E, and now a more concentrated IndyCar effort.

This expansion is part of McLaren’s broader vision to compete and succeed across multiple motorsport platforms, showcasing its engineering excellence, innovation, and competitive spirit on a global scale.

As McLaren Racing assumes full control of Arrow McLaren, fans can expect a renewed focus on innovation, performance, and championship contention in the seasons to come. With a strong foundation and a clear vision for the future, McLaren Racing is poised to make its mark in IndyCar for years to come.