P1racenews AI automatic summary:
The McLaren Formula E Team has failed to find a new investor to keep the outfit afloat for Season 12.
According to RacingNews365, Formula E will be reduced to 10 teams in its 12th season as McLaren failed to secure a new investor.
McLaren announced in April that they would be exiting the electric series after the current season, prompting team principal Ian James to search for a new investor.
Despite efforts, McLaren was unable to find an investor, leading to the closure of the team at the end of the current season in July.
With McLaren dropping out, only 10 teams are now expected to compete in Season 12 of Formula E.
This news comes ahead of the 13th and 14th rounds of the season taking place in Berlin this weekend.
It has been reported that McLaren’s young talent Taylor Barnard has joined Penske on a multi-year deal, while there are rumors suggesting Sam Bird may stick with McLaren to support their Hypercar program after an 11-year run in FE.
