McLaren Racing announced on Friday that it completed full acquisition of the Arrow McLaren IndyCar Team at the turn of the new year.
McLaren first partnered with Schmidt Peterson Motorsports in 2020, helping the team by bringing on support from the worldwide racing presence and rebranding the team as Arrow McLaren SP.
Its presence in the premiere American open wheel series grew over the next few years, with McLaren eventually purchasing 75% of the team in 2021 and dropping ‘SP’ from the team name in 2023.
McLaren purchased the remainder of the team to become sole owners as of December 31, 2024, and the original owners Sam Schmidt and Ric Peterson are no longer part of the ownership group of the team Schmidt founded in 2001.
“Stepping away from my ownership role with Arrow McLaren is bittersweet,” said Schmidt. “This team has been my life’s work, growing from a dream into a competitor at the highest level. I’m endlessly grateful to the drivers, team members, partners and fans who made it all possible, and to McLaren for elevating the team’s potential.
“While I’m stepping back from ownership, my heart will always be with this team, and I’ll be cheering for its continued success every step of the way.”
Reaffirmed commitment to IndyCar
McLaren Racing CEO Zak Brown has been heavily involved in the running of the team in recent years, often choosing to attend IndyCar events in lieu of competing Formula 1 races.
His commitment to IndyCar has been unwavering, and he and his team appear set to continue as one of the series’ major players for years to come.
“This is an exciting step for McLaren Racing as we grow and strengthen our presence in North America, which is a very important market for our team and our fans,” said McLaren Racing CEO Zak Brown.
“Sam Schmidt and Ric Peterson have been great partners and co-owners, and I want to thank them as we continue to build what they started many years ago, and that is a championship caliber NTT IndyCar Series team.”
The Arrow McLaren IndyCar Team will field three drivers for the upcoming 2025 season, with team veteran Pato O’Ward being paired with Nolan Siegel and Christian Lundgaard for all 17 events.
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