Mercedes-Benz gained full ownership of the Mercedes GP F1 team

Article by Christian A., on March 3, 2011

According to an e-mailed statement, Daimler AG’s Mercedes-Benz unit and its Abu Dhabi-based partner, Aabar Investments PJS, now have full ownership of the Mercedes GP racing team by acquiring team principal Ross Brawn’s remaining 24.9 percent stake.

The Mercedes Grand Prix racing team will still compete under Brawn's leadership, and cars and engines will still be developed and made in England.

The team emerged from the former Honda team - which quit the sport for financial reasons - after a Brawn-led management buyout.

Brawn is also a former Ferrari technical director. Daimler CEO Dieter Zetsche said the company considers the Formula One program to be essential to the brand’s history.

He added that acquiring a majority stake holding in the carmaker’s Silver Arrows team indicates that it seeks to achieve technical and sporting success on world motorsport's most important and biggest stage – and to achieve success in “cost-effective conditions.”

In November 2009, Mercedes acquired a 75.1 percent stake in the team with Aabar, which, since March 2009, has held a 9.1 percent stake in Daimler. [via autonews - sub. required]

Topics: formula 1

If you liked the article, share on:

Comments

Recommended

Fernando Alonso, two-time Formula 1 champion and who also represents McLaren in F1, will be skipping the Monaco Grand Prix this month. Jenson Button will substitute for him. But why?...
by - May 6, 2017
Porsche has officially revealed its LMP1 contender -- the 919 Hybrid. Through this model, Porsche hopes to defend not just its title in the FIA World Endurance Championship but that...
by - April 15, 2017
When it comes to hybrid propulsion, the first name that comes to people’s mind will always be Toyota. That being said, the brand has recently revealed its latest model to...
by - April 8, 2017
Building upon its highly successful racing stint in 2016, Volkswagen gives the Golf GTI TCR a new update. For this year, get ready to see Volkswagen’s Golf GTI touring car...
by - March 17, 2017
The recently unveiled road-going Chevrolet Camaro – the 2018 Camaro ZL1 1LE track-capable sports car – is simply amazing in terms of performance. Already boasting an array of aerodynamic technologies,...
by - March 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries