Today at 10:12 a.m.
McLaren Racing has officially acquired full ownership of the Arrow McLaren IndyCar Team, effective December 31, 2024.
The acquisition marks the culmination of a multi-year process during which McLaren gradually increased its stake in the team, culminating in the full buyout of co-owners Sam Schmidt and Ric Peterson.
The move strengthens McLaren’s commitment to the NTT IndyCar Series and positions the team for a new era of competition.
Zak Brown, CEO of McLaren Racing, expressed his enthusiasm for the acquisition, highlighting its importance in developing McLaren’s growing presence in North America.
“This is an exciting step for McLaren Racing as we strengthen our presence in North America, a vital market for our team and our fans,” Brown said.
“Sam Schmidt and Ric Peterson have been excellent partners and co-owners, and I want to thank them as we continue to build on the foundation they laid many years ago, with the goal of a champion team in the NTT IndyCar Series.”
Arrow McLaren’s key milestones
The Arrow McLaren IndyCar team traces its roots to 2001, when Schmidt founded Sam Schmidt Motorsports.
The team was originally focused on competing in the Indianapolis 500, but then made a full commitment to IndyCar competition in 2011.
Important milestones include the arrival of Ric Peterson as co-owner in 2013, the arrival of Arrow Electronics as title sponsor in 2019, and the partnership with McLaren Racing in 2021, which resulted in 75% participation in the team.
Subsequently, the team was renamed Arrow McLaren SP in 2020, before becoming Arrow McLaren in 2023.
Throughout its history it has enjoyed many victories, podiums and achievements, notably thanks to remarkable performances from drivers such as Simon Pagenaud and James Hinchcliffe.
-A legacy built by Schmidt and Peterson
Reflecting on his journey with the team, Schmidt described his decision to step down as deeply emotional, while expressing pride in his progress.
“Stepping away from my ownership role with Arrow McLaren is a bittersweet moment,” admitted Schmidt.
“This team has been the fruit of my entire life, growing from a dream to a top contender.
“I am infinitely grateful to the drivers, team members, partners and fans who made this possible, and to McLaren for elevating the team’s potential.”
“Although I am retiring from ownership, my heart will always remain with this team, and I will continue to support its success every step of the way.”
Ric Peterson also provided an update on his tenure as co-owner, celebrating the team’s achievements and its partnership with McLaren.
“Since joining Sam as a co-owner in 2013, it has been rewarding to watch this team grow,” Peterson said.
“We welcomed Arrow as a principal partner in 2019, joined forces with McLaren in 2021, became a three-car team in the NTT IndyCar Series in 2023, and celebrated numerous pole positions, podiums and victories in Indy Lights and IndyCar during those years.”
“This team has a strong foundation for success, and Sam and I are proud of where we leave it.”
The acquisition by McLaren Racing sets the stage for continued growth and success in the competitive IndyCar Series.
With its heritage and strong foundation, Arrow McLaren is positioned to capitalize on the achievements of its founders and write the next chapter in its prestigious history.
Good to know
- McLaren Racing has a long history in motor racing and especially in Formula 1.
- The NTT IndyCar Series is known for its high level of competition and thrilling racing.
- The partnership relationship between Arrow and McLaren has been beneficial for both organizations, strengthening their presence in the North American market.
Related News :