McLaren announced that they have concluded a deal to acquire a 75% controlling stake in Arrows SP IndyCar team.
The team that takes part in IndyCar, has recently given Aston Martin Formula 1 reserve driver Nico Hulkenberg, a chance to for a one time test run at Barber Motorsports Park back in October, as the team are considering running a third car for 2022, with drivers Pato O’Ward and Felix Rosenqvist being their confirmed 2022 lineup.
Press Release
McLaren Racing confirms today that it has completed the agreement to acquire the majority shareholding in the Arrow SP IndyCar team by the end of the year.
The conclusion of the agreement means that McLaren Racing will become the majority shareholder in the team with a controlling 75% stake, with Arrow McLaren SP to formally be part of the McLaren Racing organisation.
The team will be governed by a five-person board, comprising three McLaren Racing appointees, Sam Schmidt and Ric Peterson and will be chaired by McLaren Racing CEO Zak Brown.
Taylor Kiel, President of Arrow McLaren SP, will be accountable to Brown and the board for the overall operations and performance of the team. Financial terms of the deal are not being disclosed.
Brief History of McLaren
The team was founded by Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966 and has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.
The Woking-based outfit is also a great champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry.