McLaren Racing confirmed Nov. 29 that it has completed the agreement to acquire the majority shareholding in the Arrow McLaren SP NTT INDYCAR SERIES team by the end of the year. The conclusion of the agreement means that McLaren Racing will become the majority shareholder in the team with a controlling 75 percent stake, with Arrow McLaren SP to formally be part of the McLaren Racing organization. A five-person board will govern the team, comprised of three McLaren Racing appointees, Sam Schmidt and Ric Peterson. Taylor Kiel, president of Arrow McLaren SP, will be accountable to Brown and the board for the overall operations and performance of the team. McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. McLaren Racing currently competes in Formula One globally and the NTT INDYCAR SERIES in the U.S.

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