McLaren Racing has announced that it will acquire a 75% stake in the Arrow McLaren SP team in IndyCar at the end of this season.
McLaren’s majority stake announcement was made in Nashville, site of Round 11 of the 2021 IndyCar season, the second campaign of McLaren’s partnership with the structure that was previously known as Schmidt Peterson Motorsports. (SPM). The team was founded by former IndyCar driver Sam Schmidt in 2001, Ric Peterson having joined in 2013 to form SPM.
The team has run one of the most successful Indy Lights programs in recent years, winning seven driver championships, while in IndyCar they have captured 13 poles and 27 podiums, including nine victories. Two of those successes came under the Arrow McLaren SP-Chevrolet name, with Pato O’Ward currently running second in the championship.
The team will be led by a new board of directors made up of five people, including three appointed by McLaren Racing, as well as Schmidt and Peterson, and chaired by Zak Brown, CEO of McLaren Racing. Taylor Kiel, President of Arrow McLaren SP, will continue to lead and oversee the operations of the team, reporting directly to the Board of Directors.
McLaren returned to full-time IndyCar competition in 2020 after a 40-year absence, to create Arrow McLaren SP, forming a strategic partnership with title sponsor Arrow Electronics and SPM. The legendary team created by Bruce McLaren has notably strengthened the technical and engineering departments of the training, while adding business partners like Vuse, Mission Foods, Darktrace, Tezos and QNTMPAY.
Brown said: « Today’s announcement is a strong signal of our long-term commitment to IndyCar, both as a championship and as a marketing platform for McLaren Racing and our sponsors. »
« I would like to pay tribute to Sam Schmidt and Ric Peterson who, with the commitment and support of Arrow Electronics, have put together a formidable team that will allow us to continue to grow and achieve our common ambition to fight consistently for wins, Indy 500s and titles. The key to this success is Taylor Kiel’s continued leadership as team president, who has been instrumental in moving the partnership forward to date. «
« McLaren Racing believes the IndyCar will continue to grow our brand in North America, serve our growing US fan base and partners through our racing portfolio, and create long-term value. Racing is unique, with world-class competitors, both driver and team, and passionate and very committed fans. «
« We see real potential for the continued growth of the series under the leadership of Penske Entertainment and we will continue to play an active role in supporting the success of the discipline, developing the global fan base and implementing our program. sustainable development in order to meet our environmental and social commitments, in particular by advancing diversity and inclusion in the industry. «