McLaren Racing is now the full owner of the Arrow McLaren IndyCar Team. The organisation acquired the remaining stake per the 31st of December 2024.
The outfit started its life 2001 as Sam Schmidt Motorsports, following IndyCar driver Sam Schmidt’s career-ending crash in 2000. After Ric Peterson purchased stake in the team, it was known as Schmidt Peterson Motorsports since 2013. Naming partner Arrow joined in 2019, with McLaren Racing following a year later. McLaren then bought a 75% stake in the IndyCar team after the 2021 season.
CEO Zak Brown was delighted with the acquisition, praising both Schmidth and Peterson for their efforts.
“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.
“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.”
Owner Sam Schmidt had mixed feelings over letting go of his life’s work. He wishes the team all the best in the future.
“Stepping away from my ownership role with Arrow McLaren is bittersweet. 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, a Canadian business man, is proud of how Schmidt and him are handing over the team.
“Since I joined Sam as co-owner in 2013, it’s been rewarding to see this team evolve. 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.”
