Mercedes-Benz will enter next year’s Formula One World Championshipafter taking a 75.1 per cent share in Brawn GP, the British-based constructorshave confirmed.
Mercedes engines powered Brawn’s Jenson Button to the world championship in the recently-completed season and the team also claimed the constructors’ championship, while Lewis Hamilton, Button’s predecessor as world champion, was also sitting behind a Mercedes engine in his McLaren.
Ross Brawn will remain as team principal.
The team will become known as Mercedes Grand Prix, with Brawn in control, while Mercedes-Benz Motorsport vice-president Norbert Haug will work with the F1 team and the engine team of Mercedes-Benz High Performance Engines.
As part of the deal, Mercedes’ parent company Daimler AG relinquished their 40 per cent stake in McLaren, but will remain their engine suppliers for the next six seasons. Daily Record
“Brawn GP has been through an incredible journey over the last 12 months,” said Brawn. “From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the constructors’ and drivers’ world championships, and now accepting Daimler and Aabar’s offer to buy our team, which will secure its future.
“The senior management group will remain in place to lead our team and on behalf of everyone at Brawn GP, we are honoured to be representing such a prestigious brand as Mercedes-Benz in Formula One next year and will be working together to do our best to reward their faith in our team.”
According to Mercedes, the decision to step up their level of Formula One involvement was prompted by recent agreements on ways of cutting expenditure in the sport and by the higher levels of income afforded to teams following the signing of the new Concorde Agreement earlier this year.
“Mercedes-Benz is the most valued and best-known premium automotive brand in the world. This brand looks for competition of the utmost quality in all relevant fields in order to continually improve its performance in the face of such new challenges,” explained Dr Dieter Zetsche, CEO of Daimler AG and Head of Mercedes-Benz Cars.
“Due to the new Formula One environment, we will face the competition in future on the most important motor sports stage with our own Silver Arrow works team. Our new Silver Arrow Formula One team is a great sporting and technical challenge and we will tackle this with sporting spirit and full of enthusiasm.” Formula 1
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 Mercedes-Benz’s parent company, Daimler AG.
“In a transaction structured so as to be completed by 2011, the McLaren Group will undertake a phased purchase of the 40 per cent 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.” Khaleej Times
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