The close of 2024 marked a significant transition for the Arrow McLaren IndyCar team, with McLaren Racing finalizing its acquisition of the team and assuming full ownership. This move solidified McLaren’s presence in the North American motorsport landscape, a market deemed crucial for the team’s growth and fan engagement. The acquisition represented the culmination of a multi-year process initiated in 2021 when McLaren acquired a 75% stake in the team, then known as Schmidt-Peterson Motorsports. The team subsequently underwent several name changes, evolving from Arrow McLaren SP to Arrow McLaren IndyCar Team in 2023. The finalization of the buyout saw founding partners Sam Schmidt and Ric Peterson relinquish their remaining minority ownership, marking the end of an era for the team they built.
Zak Brown, CEO of McLaren Racing, expressed enthusiasm about the full acquisition, emphasizing its strategic importance for the company’s expansion in North America. He acknowledged the significant contributions of Schmidt and Peterson, praising their partnership and dedication to building a championship-caliber IndyCar team. Brown reiterated McLaren’s commitment to continuing the legacy of success established by the founding partners. The sentiment of gratitude towards Schmidt and Peterson was echoed throughout the organization, recognizing their instrumental role in shaping the team’s identity and achieving competitive success.
Both Schmidt and Peterson expressed mixed emotions about their departure from ownership. For Schmidt, the decision was particularly poignant, representing the culmination of his life’s work. He expressed immense gratitude for the drivers, team members, partners, and fans who had contributed to the team’s journey. He specifically acknowledged McLaren for recognizing and elevating the team’s potential, expressing confidence in their ability to propel the team to even greater heights. While stepping back from ownership, Schmidt affirmed his unwavering support for the team, vowing to remain a dedicated fan and cheer them on in their future endeavors.
Peterson, echoed Schmidt’s sentiments. He reflected on the team’s evolution since joining as co-owner in 2013, highlighting key milestones such as the partnership with Arrow as title sponsor in 2019, the merger with McLaren in 2021, the expansion to a three-car IndyCar team in 2023, and the numerous victories achieved throughout the years. He expressed pride in the strong foundation built for the team, confident in its future success under McLaren’s leadership. The transition marks a new chapter for the IndyCar team, with McLaren now fully at the helm.
McLaren Racing, founded by the legendary Bruce McLaren in 1963, boasts a rich and storied history in motorsport. The team’s inaugural Formula 1 race in 1966 set the stage for decades of unparalleled success, amassing an impressive record of 20 Formula 1 world championships, 189 Formula 1 Grand Prix victories, three Indianapolis 500 triumphs, and a remarkable victory at the 24 Hours of Le Mans on their first attempt. This legacy of winning permeates McLaren’s DNA, driving their relentless pursuit of excellence across various racing disciplines.
Today, McLaren Racing’s competitive spirit extends across a diverse portfolio of racing series. In Formula 1, the pinnacle of motorsport, McLaren fields drivers Lando Norris and Oscar Piastri, vying for championship glory. The IndyCar Series sees Pato O’Ward, Nolan Siegel, and Christian Lundgaard competing under the Arrow McLaren banner. The team’s electric racing ambitions are manifested in Formula E, where Sam Bird and Taylor Barnard represent the NEOM McLaren Formula E Team. Furthermore, McLaren’s commitment to sustainable motorsport is evident through their participation in the Extreme E Championship as the NEOM McLaren Extreme E Team. The team’s commitment to developing young talent is demonstrated through their involvement in the F1 Academy with ART Grand Prix and driver development program member Bianca Bustamente. Finally, McLaren’s prowess in the virtual world is showcased through their participation in the F1 Sim Racing Championship as McLaren Shadow, a testament to their embrace of cutting-edge technologies and esports. The acquisition of the IndyCar team reinforces McLaren’s position as a dominant force in global motorsport.
