P1racenews AI automatic summary:
McLaren Racing has become a sole owner of an IndyCar team.
Effective December 31, 2024, McLaren has become the sole owner of the Arrow McLaren IndyCar Team, completing the buyout from Sam Schmidt and Ric Peterson. McLaren initially purchased a 75% stake in Schmidt Peterson Motorsports in 2021, later rebranded as Arrow McLaren SP and Arrow McLaren. Schmidt and Peterson had minority ownership from 2021-2024, expressing pride in the team’s journey. Despite the bittersweet feeling of losing ownership, Schmidt remains supportive of the team. For the 2025 IndyCar season, Arrow McLaren will field three cars driven by Pato O’Ward, Nolan Siegel, and Christian Lundgaard, as McLaren continues to strengthen its presence in North America. CEO Zak Brown acknowledges the contributions of Schmidt and Peterson in building a championship-caliber team.
