IndyCar: McLaren Racing acquires full ownership of Arrow McLaren

As of December 31, 2024, McLaren Racing has sole ownership of Arrow McLaren IndyCar Team following the final phase of its buyout from Sam Schmidt and Ric Peterson, deepening its commitment to motorsport in North America.

McLaren bought a 75% stake in the IndyCar team in 2021, which had evolved from Schmidt-Peterson Motorsports to Arrow McLaren SP and most recently to Arrow McLaren IndyCar Team in 2023. Sam and Ric retained minority ownership from 2021-2024.

“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 Zak Brown, CEO, McLaren Racing.

“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.”

No Hard Feelings

“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,” added Ric Peterson, former owner, Arrow McLaren IndyCar Team.

“Stepping away from my ownership role with Arrow McLaren is bittersweet,” said Sam Schmidt, former owner, Arrow McLaren IndyCar Team.

“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.”