McLaren Racing takes sole possession of IndyCar program

McLaren Racing has confirmed sole possession of Arrow McLaren IndyCar Staff, which went into impact on December 31, 2024. The complete acquisition by McLaren Racing comes after the ultimate section of its buyout from Sam Schmidt and Ric Peterson.

The staff that was initially run beneath the Schmidt-Peterson Motorsports banner was modified to Arrow McLaren SP in 2020, when McLaren purchased a 75% stake within the IndyCar program in 2021. The title advanced to Arrow McLaren in 2023, with Schmidt and Peterson nonetheless concerned in a minority possession position throughout that point and as much as the conclusion of 2024. 

Zak Brown, the CEO of McLaren Racing, burdened the significance of increasing and additional rooting the group with the takeover of this system in North America’s premier open-wheel championship.

“That is an thrilling step for McLaren Racing as we develop and strengthen our presence in North America, which is an important marketplace for our staff and our followers,” stated Brown. “Sam Schmidt and Ric Peterson have been nice companions and co-owners, and I need to thank them as we proceed to construct what they began a few years in the past, and that may be a championship caliber NTT IndyCar Collection staff.”

The bottom flooring of the group was shaped as Sam Schmidt Motorsports in 2001, incomes a breakthrough podium courtesy of Jaques Lazier at Nashville Superspeedway. It then turned an unique presence within the Indianapolis 500 from 2003-10. A return to full-time racing occurred in 2011 with Alex Tagliani. The late Dan Wheldon additionally drove his ultimate race with the staff that very same yr. 

Underneath the Schmidt-Hamilton label, in partnership with former driver Davey Hamilton, the staff plucked a proficient younger Frenchman named Simon Pagenaud and went on to attain a standout season in 2012 that included three podiums en path to fifth within the championship standings. The next yr noticed the arrival of Peterson as a part of the staff possession; Pagenaud delivered the group’s first win within the second act of a Detroit doubleheader earlier than profitable once more at Baltimore later that very same season and rising to 3rd within the championship.

Arrow McLaren Chevrolet Zak Brown

Picture by: Geoffrey M. Miller / Motorsport Pictures

The group formally turned Schmidt-Peterson in 2015, with Pagenaud profitable three extra instances earlier than departing to Team Penske the next yr. 

The 2016 season noticed James Hinchcliffe ship a victory in a rain-impacted race at NOLA Motorsports Park. Hinchcliffe gained two extra instances for the group: Lengthy Seashore (2017) and Iowa Speedway (2018). Arrow Electronics turned an official accomplice of the staff in 2019.

“Stepping away from my possession position with Arrow McLaren is bittersweet,” stated Schmidt. “This staff has been my life’s work, rising from a dream right into a competitor on the highest degree. I’m endlessly grateful to the drivers, staff members, companions and followers who made all of it doable, and to McLaren for elevating the staff’s potential. Whereas I’m stepping again from possession, my coronary heart will all the time be with this staff, and I’ll be cheering for its continued success each step of the way in which.”

Peterson added, “Since I joined Sam as co-owner in 2013, it’s been rewarding to see this staff evolve. We welcomed Arrow as title accomplice in 2019, we joined forces with McLaren in 2021, we turned a three-car NTT IndyCar Collection staff in 2023, and we celebrated many poles, podiums and wins in Indy Lights and IndyCar all through these years. This staff has a robust basis for fulfillment, and Sam and I are pleased with the place we go away it.”