McLaren Racing takes sole possession of IndyCar program

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

The group 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 identify 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 a vital marketplace for our group 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 could be a championship caliber NTT IndyCar Sequence group.”

The bottom ground of the group was shaped as Sam Schmidt Motorsports in 2001, incomes a breakthrough podium courtesy of Jaques Lazier at Nashville Superspeedway. It then grew to become 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 group that very same yr. 

Beneath the Schmidt-Hamilton label, in partnership with former driver Davey Hamilton, the group plucked a gifted 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 group possession; Pagenaud delivered the group’s first win within the second act of a Detroit doubleheader earlier than successful once more at Baltimore later that very same season and rising to 3rd within the championship.

The group formally grew to become Schmidt-Peterson in 2015, with Pagenaud successful three extra instances earlier than departing to Workforce Penske the next yr. 

The 2016 season noticed James Hinchcliffe ship a victory in a rain-impacted race at NOLA Motorsports Park. Hinchcliffe received two extra instances for the group: Lengthy Seaside (2017) and Iowa Speedway (2018). Arrow Electronics grew to become an official companion of the group in 2019.

“Stepping away from my possession position with Arrow McLaren is bittersweet,” stated Schmidt. “This group 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, group members, companions and followers who made all of it attainable, and to McLaren for elevating the group’s potential. Whereas I’m stepping again from possession, my coronary heart will all the time be with this group, 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 group evolve. We welcomed Arrow as title companion in 2019, we joined forces with McLaren in 2021, we grew to become a three-car NTT IndyCar Sequence group in 2023, and we celebrated many poles, podiums and wins in Indy Lights and IndyCar all through these years. This group has a robust basis for achievement, and Sam and I are pleased with the place we depart it.”