chrism
11-16-2009, 05:58 PM
FRANKFURT — Mercedes-Benz is taking over Formula One champion Brawn GP and plans to end its shareholding in McLaren.
Mercedes-Benz chairman Dieter Zetsche, speaking in a telephone conference on Monday, said Brawn would race in 2010 as the Mercedes GP team. The German car maker had previously supplied Brawn with engines and will continue to supply both Ross Brawn's team and McLaren.
In terms of shareholding, Mercedes and Aabar Investments PJSC will get 75.1 percent of Brawn GP. Aabar is the biggest single shareholder of Daimler AG, Mercedes-Benz's parent company.
McLaren said in a statement it would continue to use Mercedes engines until 2015 and that the team would continue to be known as McLaren Mercedes.
However, the British-based team also announced it would be buying out the stake in the team owned by Daimler AG.
"In a transaction structured so as to be completed by 2011, the McLaren Group will undertake a phased purchase of the 40 percent shareholding currently owned by Daimler AG. As a result, the McLaren Group will become a fully independent stand-alone corporate entity," McLaren said.
Mercedes motorsports chief Norbert Haug said the separation was a "friendly solution."
Brawn GP, which took over from Honda when it pulled out from the sport in March, had a spectacular first season with Jenson Button winning the 2009 drivers' title and the team taking the constructors' championship.
Team principal Ross Brawn had only spent one full season with Honda, leading the team's 2008 campaign after 10 years with Ferrari.
Button was partnered this year with Rubens Barrichello, who is moving to the Williams team next season.
McLaren's drivers were 2008 world champion Lewis Hamilton and Heikki Kovalainen.
The decision on the two drivers for the new Mercedes GP team "will still take come time," Haug. "We have to consider this carefully."
Mercedes-Benz chairman Dieter Zetsche, speaking in a telephone conference on Monday, said Brawn would race in 2010 as the Mercedes GP team. The German car maker had previously supplied Brawn with engines and will continue to supply both Ross Brawn's team and McLaren.
In terms of shareholding, Mercedes and Aabar Investments PJSC will get 75.1 percent of Brawn GP. Aabar is the biggest single shareholder of Daimler AG, Mercedes-Benz's parent company.
McLaren said in a statement it would continue to use Mercedes engines until 2015 and that the team would continue to be known as McLaren Mercedes.
However, the British-based team also announced it would be buying out the stake in the team owned by Daimler AG.
"In a transaction structured so as to be completed by 2011, the McLaren Group will undertake a phased purchase of the 40 percent shareholding currently owned by Daimler AG. As a result, the McLaren Group will become a fully independent stand-alone corporate entity," McLaren said.
Mercedes motorsports chief Norbert Haug said the separation was a "friendly solution."
Brawn GP, which took over from Honda when it pulled out from the sport in March, had a spectacular first season with Jenson Button winning the 2009 drivers' title and the team taking the constructors' championship.
Team principal Ross Brawn had only spent one full season with Honda, leading the team's 2008 campaign after 10 years with Ferrari.
Button was partnered this year with Rubens Barrichello, who is moving to the Williams team next season.
McLaren's drivers were 2008 world champion Lewis Hamilton and Heikki Kovalainen.
The decision on the two drivers for the new Mercedes GP team "will still take come time," Haug. "We have to consider this carefully."