McLaren Racing has officially taken full ownership of the Arrow McLaren IndyCar Team, effective December 31, 2024.
The acquisition marks the culmination of a multi-year process that saw McLaren gradually increase its stake in the team, culminating in the complete buyout of co-owners Sam Schmidt and Ric Peterson.
The move solidifies McLaren's commitment to the NTT IndyCar Series and positions the team for a new era of competition.
Zak Brown, CEO of McLaren Racing, expressed enthusiasm for the acquisition, emphasizing its importance to McLaren's growing North American presence.
“This is an exciting step for McLaren Racing as we grow and strengthen our presence in North America, which is a very important market for our team and our fans,” said Brown.
“Sam Schmidt and Ric Peterson have been great partners and co-owners, and I want to thank them as we continue to build what they started many years ago, and that is a championship caliber NTT IndyCar Series team.”
Arrow McLaren's Key Milestones
The Arrow McLaren IndyCar Team traces its origins to 2001 when Schmidt founded Sam Schmidt Motorsports.
The team initially focused on competing in the Indianapolis 500 but later expanded into full-time IndyCar competition in 2011.
Sam Schmidt
Key milestones included the addition of Ric Peterson as co-owner in 2013, the arrival of Arrow Electronics as a title sponsor in 2019, and the partnership with McLaren Racing in 2021, which resulted in a 75% ownership stake.
Thereafter, the team rebranded as Arrow McLaren SP in 2020 and eventually transitioned to Arrow McLaren in 2023.
Over its history, it has achieved numerous victories, podiums, and milestones, including standout performances by drivers such as Simon Pagenaud and James Hinchcliffe.
A Legacy Built by Schmidt and Peterson
Reflecting on his time with the team, Schmidt described his decision to step away as deeply emotional but expressed pride in his evolution.
“Stepping away from my ownership role with Arrow McLaren is bittersweet,” Schmidt admitted.
“This team has been my life's work, growing from a dream into a competitor at the highest level.
“I'm endlessly grateful to the drivers, team members, partners and fans who made it all possible, and to McLaren for elevating the team's potential.
“While I'm stepping back from ownership, my heart will always be with this team, and I'll be cheering for its continued success every step of the way.”
Ric Peterson also reflected on his tenure as co-owner, celebrating the team's accomplishments and its partnership with McLaren.
“Since I joined Sam as co-owner in 2013, it's been rewarding to see this team evolve,” said Peterson.
©ArrowMcLarenSP
“We welcomed Arrow as title partner in 2019, we joined forces with McLaren in 2021, we became a three-car NTT IndyCar Series team in 2023, and we celebrated many poles, podiums and wins in Indy Lights and IndyCar throughout those years.
“This team has a strong foundation for success, and Sam and I are proud of where we leave it.”
McLaren Racing's acquisition sets the stage for continued growth and success in the competitive IndyCar Series.
Thanks to its legacy and strong foundation, Arrow McLaren is poised to build on the achievements of its founders and write the next chapter in its storied history.
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