Mercedes-Benz buys Brawn GP

Image Source: Cahier Archive

Nov.16 (GMM) Mercedes-Benz announced on Monday that it is taking a controlling stake in Brawn GP, which will race in formula one next year as 'Mercedes Grand Prix'.

In a press conference, the German carmaker's chairman Dieter Zetsche said Mercedes' 40 per cent stake in McLaren will be wound back by the end of a contract in 2011.

He said the decision is to make Mercedes' F1 involvement "more efficient" and to lower costs.

Ross Brawn is expected to remain team principal.

McLaren confirmed that it will continue to be powered by Mercedes engines at least until 2015 while fielding cars with the usual silver and red livery.

A media statement added that McLaren is to buy back Mercedes parent group Daimler's 40 per cent shareholding.

"As a result, the McLaren Group will become a fully independent stand-alone corporate entity," the statement said.
 
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