McLaren Racing Finalizes Full IndyCar Team Buyout

McLaren Racing has completed its acquisition of the Arrow McLaren IndyCar Team, taking full ownership from former co-owners Sam Schmidt and Ric Peterson, effective December 31, 2024. This move finalizes a process that began in 2021 when McLaren purchased a 75% stake in the team, which was originally founded by Schmidt in 2001 and had undergone several rebrandings. The transition marks a significant expansion of McLaren's presence in North America, aligning with its vision to be a dominant force in the NTT IndyCar Series. Schmidt expressed bittersweet emotions about stepping away, having dedicated his life to the team, but remains supportive of its future. The team, renamed Arrow McLaren in 2023, has shown success with notable performances such as Pato O’Ward's wins in the 2024 season and is set to continue competing with a strong driver lineup for the upcoming season. Zak Brown, CEO of McLaren Racing, emphasized gratitude to Schmidt and Peterson for their contributions and commitment to building a championship-caliber team.