McLaren has just taken a majority stake in its IndyCar team
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McLaren significantly expanded its involvement in the Arrow McLaren SP IndyCar team, purchasing a controlling stake in the team that was previously a close partner.
This decision confirms McLaren’s unique business model of complementing their legendary Formula 1 team with an American presence in IndyCar. From a business standpoint, this is a big hit, allowing McLaren to offer coverage to sponsors in Europe and the United States and adding around 17 more opportunities to host guests during the event. one race in North America each year. It also gives McLaren a place to keep staff and drivers in the race without using up part of their F1 budget cap or operating within the traditional European development structure, allowing them to retain their heavy racing footprint in a similar way. in the new place of Ferrari. -2023 LMH program.
From a racing standpoint, owning the majority of a full-time IndyCar team boosts their chances of achieving their clearly stated national racing aspirations: IndyCar Championships and Indianapolis 500 wins.
The Arrow McLaren SP team currently employs Patricio O’Ward and Felix Rosenqvist in their two cars full time. He could add a third car as early as 2022, which the team is expected to do by 2023. O’Ward has won two races with the team and sits second in the season championship standings, while Rosenqvist has a best 12th finish in what has been a tough first season with the team.
Sam Schmidt and Ric Peterson, the âSâ and âPsâ of Arrow McLaren SP, will retain 25% of the company and continue to participate in leadership decisions. The team has been around in one form or another since Schmidt founded the program in 2001.
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