F1 giant OFFICIALLY completes purchase of IndyCar team

McLaren Racing has taken full ownership of the Arrows McLaren IndyCar operation, completing the protracted purchase from Sam Schmidt and Ric Peterson.

The purchase officially went through on 31 December, having started all the way back in 2021 when McLaren bought a 75% stake in the team originally known as Schmidt-Peterson Motorsports - a name which changed to Arrow McLaren SP in 2020 when the pair agreed to run as a joint entry.

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The team have been a regular presence at the front of races since McLaren's involvement began, with Pato O'Ward claiming seven race victories across five years, with a further 15 top-three finishes.

O'Ward has clearly been the team's star driver in that time, with no other member of the team claiming a single IndyCar race win, and totalling just six top-three finishes across more than 100 race entries.

Replacing this year's New Year's graphic with a photo of @PatricioOWard… because why not? 🫳

Here's to a BIG 2025, team. 🥳🥂 pic.twitter.com/iWtxovYLYw

— Arrow McLaren IndyCar Team (@ArrowMcLaren) January 1, 2025

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McLaren complete team purchase - what next?

Speaking after the purchase was officially finalized, CEO Zak Brown said: “This is an exciting step for McLaren Racing as we grow and strengthen our presence in North America, which is a very important market for our team and our fans.

"Sam Schmidt and Ric Peterson have been great partners and co-owners, and I want to thank them as we continue to build what they started many years ago, and that is a championship caliber NTT IndyCar Series team.”

Schmidt added: “Stepping away from my ownership role with Arrow McLaren is bittersweet. This team has been my life’s work, growing from a dream into a competitor at the highest level.

"I’m endlessly grateful to the drivers, team members, partners and fans who made it all possible, and to McLaren for elevating the team’s potential. While I’m stepping back from ownership, my heart will always be with this team, and I’ll be cheering for its continued success every step of the way.”

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