The McLaren Racing organization has now taken full ownership and control of the Arrow McLaren team from US motor racing’s IndyCar.

This follows the final stage of the Indianapolis team’s buyout from previous owners Sam Schmidt and Ric Peterson.

McLaren bought an initial 75% stake in the IndyCar outfit in November 2021, with Schmidt and Peterson then remaining as minority owners for the next few years. This came after an initial strategic partnership during the 2020 season. Schmidt and Peterson have formed part of a five-person governing board since then.

The team has been named Arrow McLaren IndyCar Team since 2023, following electronics firm Arrow first becoming its title partner in 2019.

Before the first McLaren purchase, it had been known as Schmidt Peterson Motorsports.

Zak Brown, McLaren Racing’s chief executive, said: “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 IndyCar Series team.”

Peterson added: “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 IndyCar Series team in 2023, and we celebrated many poles, podiums and wins in Indy Lights and IndyCar throughout those years.”

Best known for its Formula 1 motor racing team, McLaren also operates sides across the IndyCar, Formula E, and Extreme E series.

The 2025 IndyCar season will begin in Florida on March 2 and end on August 31 with the Big Machine Music City Grand Prix in Tennessee.

Before returning to IndyCar four years ago, McLaren last competed full-time in that series in 1979.

The motoring heavyweight first began to explore a return in 2017, when ex-Formula 1 world champion Fernando Alonso entered the 2017 Indy 500 driving a McLaren-branded Andretti Autosport car.

Some of the McLaren IndyCar sponsors include NTT Data, Onsemi, Genesys, and Hoka.