McLaren he took the next step in his full-time return to IndyCar announcing today that it has entered into an agreement to acquire a majority stake in the team Arrow McLaren SP. The transaction will close later this year and will see McLaren take a share of the 75% of the team. Financial terms of the deal were not disclosed. The deal comes at IndyCar’s inaugural race in Nashville, Tennessee, midway through the second season of the partnership between McLaren and Schmidt Peterson Motorsports. The team was originally founded by Sam Schmidt in 2001 and, under the name of Arrow McLaren, has captured two wins, nine podiums and three pole positions in 24 rounds.
The team, also chaired by Taylor Kiel, will be governed by a new five-person board (consisting of three McLaren representatives, Sam Schmidt and Ric Peterson). At the head of the Board there will be Zak Brown. The Californian commented: “Today’s announcement is a strong sign of our long-term commitment to IndyCar both as a league and as a marketing platform. I want to pay tribute to Sam Schmidt and Ric Peterson who, together with the commitment and support of Arrow Electronics, have built a formidable team to continue to grow and fulfill our common ambition to constantly strive to win. The key to this is Taylor Kiel’s continued leadership as team president, which has been instrumental in the partnership’s progress so far. We see real potential for the continued growth of the series under Penske Entertainment’s management and will continue to play an active role in supporting IndyCar, growing the global fan base and implementing our sustainability program to meet environmental and social commitments, including progress in diversity and inclusion“.