McLaren's deal to acquire a 75 percent stake in its affiliated IndyCar outfit Arrow McLaren SP is now done and dusted.
McLaren Racing announced back in August an agreement to buy a majority stake in AMSP, the IndyCar joint venture between McLaren and Schmidt Peterson Motorsports.
The transaction between the two entities - the financial terms of which were not disclosed - has now closed.
The team's name and operations in Indianapolis will remain unchanged, while a deeper integration with McLaren’s personnel and engineering resources is anticipated.
The team will be governed by a five-person board chaired by McLaren Racing CEO Zak Brown that will comprise three McLaren Racing appointees as well as previous team owners Sam Schmidt and Ric Peterson and will be
Taylor Kiel will remain President of Arrow McLaren SP and "will be accountable to Brown and the board for the overall operations and performance of the team", according to a statement from McLaren.
IndyCar's 2022 season is set to kick off on February 27 on the streets of St. Petersburg.
Arrow McLaren SP's driver line-up for next year's campaign remains unchanged, with Pato O'Ward who finished third in this year's championship and Felix Rosenqvist.