Schmidt and Peterson End Era as Arrow McLaren Ownership Changes Hands
Sam Schmidt and Ric Peterson have sold their remaining ownership stake in Arrow McLaren, completing McLaren Racing's full acquisition of the NTT IndyCar Series team. The move marks the end of an era that began in 2001 when Schmidt founded Sam Schmidt Motorsports.
Race cars lined up on track
The team evolved significantly over the years, with Peterson joining as co-owner in 2013. McLaren initially acquired a 75% stake in 2021, leading to the team's rebranding from Arrow McLaren SP to simply Arrow McLaren in 2023.
Schmidt, who started the team after a career-ending crash in IndyCar testing, reflected on his departure: "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."
Peterson acknowledged the team's growth during his tenure, highlighting achievements including Arrow's title partnership in 2019, the McLaren alliance in 2021, and expansion to a three-car operation in 2023.
Moving forward, McLaren Racing CEO Zak Brown has appointed IndyCar champion and Indy 500 winner Tony Kanaan as team principal. Brown emphasized the strategic importance of this acquisition for McLaren's North American presence, expressing gratitude to Schmidt and Peterson for their partnership in building a championship-caliber IndyCar team.
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