Image courtesy of McLaren Racing

McLaren Racing has agreed to acquire a majority share in the Arrow McLaren SP IndyCar team. The transaction will close by the end of the year and see McLaren Racing take a 75% share of the team. The financial terms of the deal are not being disclosed. 

“McLaren Racing believes IndyCar will continue to build our brand in North America, serve our expanding US fan and partner base across our racing portfolio, and drive long-term value. The racing is second-to-none, with world-class competitors in both drivers and teams and a passionate, highly engaged fanbase,” McLaren Racing CEO Zak Brown said.

The team will be governed by a new five-person board, comprising three McLaren Racing appointees together with Sam Schmidt and Ric Peterson, chaired by Brown. Taylor Kiel, President of Arrow McLaren SP, will continue to lead and oversee the team’s operations, reporting directly to the board. 

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 team was initially founded by Sam Schmidt in 2001, with Ric Peterson joining in 2013 to form Schmidt Peterson Motorsports (SPM). The team ran one of the most successful Indy Lights programs in recent times, securing seven drivers’ championships, while in the IndyCar Series it has claimed 13 pole positions and 27 podiums, including nine race victories, two as Arrow McLaren SP. 

The McLaren Racing organization has four fully-fledged motorsports teams headed by McLaren F1 and complemented by the McLaren IndyCar, McLaren Extreme E, and McLaren Shadow esports and gaming teams. 

For more information, visit mclaren.com/racing/.