McLaren seals purchase of majority stake in Arrow McLaren SP

©ArrowMcLaren

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.

Read also: McLaren investment in IndyCar will 'benefit' F1 team - Brown

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.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.