Daimler acquires stake in winning team Brawn GP, changes its name to Mercedes Grand Prix
Topics: Daimler AG, Brawn GP, Mercedes Grand Prix
November 19, 2009
On Monday Daimler AG announced a deal to buy a 75.1% stake in Brawn GP.
As a result, the team who won both the 2009 Drivers’ and Constructors' championships this year with Mercedes-engined cars, would be rebranded as Mercedes Grand Prix from 2010 Formula One Season onwards. The team could possibly use its legendary 'Silver Arrows' livery again since a crash at Le Mans in 1955, ending Mercedes' 55 year absence in the sport as a sole team.
Daimler purchase went in partnership with Aabar Investments, who now own 30% of the shares. The rest of the shares will stay for Ross Brawn, who will remain as team principal, and Nick Fry.
The team still will be headquartered in Brackley (United Kingdom) which is close to Mercedes F1 engine plant at Brixworth, led by Norbert Haug, Vice-President of Mercedes-Benz Motorsport.
Mercedes will also continue to supply McLaren with engines until at least 2015, but sell its 40% stake in two years.
Mercedes is now up to decide their drivers for the next season as Rubens Barrichello already signed a contract with Williams and Jenson Button could run for McLaren together with Lewis Hamilton.
This article is licensed under the Creative Commons Attribution 2.5 License.
|Connect with The Crittenden Automotive Library|