F1: Another Payday For Brawn As Mercedes Buys 100 Percent - Mercedes-Benz Forum

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F1: Another Payday For Brawn As Mercedes Buys 100 Percent

F1: Another Payday For Brawn As Mercedes Buys 100 Percent
Ross Brawn says he remains committed long-term to the Mercedes GP team...
Adam Cooper | The Motor Sports Authority - Auto Racing, Formula 1, Moto Racing, NASCAR, News, Photos, Videos, Blogs, & more... | Posted February 28, 2011 Balen (BEL)

Mercedes and its Abu Dhabi partner partner Aabar Investment have now completed their buyout of the former Brawn GP team.

Ross Brawn and his fellow Brawn GP shareholders – including Nick Fry – had retained 24.9 percent of what became Mercedes GP after selling the rest in November 2009.

Daimler has now increased its stake from 45.1 to 60 percent, while Aabar has increased its stake from 30 to 40 percent. Aabar also owns nine percent of Daimler AG.

Until recently, Mercedes had also retained a 16 percent share of McLaren, but that has now passed back to the other shareholders.

Dieter Zetsche, CEO of Daimler AG and Head of Mercedes-Benz Cars, said: “This majority stake holding demonstrates our determination to build a long-term Formula One involvement on an even more successful platform. Our company’s founders invented the automobile 125 years ago and the very first Mercedes was a racing car.

“These are the reasons why we see our Formula One program as an important element of our brand history. The acquisition of a majority stake holding in our Silver Arrows team sends a clear signal that we intend to achieve technical and sporting success on world motorsport’s biggest and most important stage – and to do so in cost-effective conditions.”

Thomas Weber, board member and also Chairman of Mercedes Grand Prix Ltd, added: “This step will bring the colleagues from our Formula One chassis and engine groups even closer together and thereby help to develop our team step-by-step into a winning Formula One outfit. We now also fulfill Ross’ wish of being in a position to focus wholly on the complex technical challenges of Formula One and on his role as our team principal.”

Meanwhile, Ross Brawn said: “I remain fully committed to our team for the long-term, along with the management team and all of our employees. We all look forward to the challenge of making our team successful, and proudly representing Mercedes-Benz and the racing tradition of the Silver Arrows.”

Adam Cooper notched up his 26th season as a racing journalist in 2010. Born in London, England, he saw his first F1 race at age 10 in 1976. He began freelancing for Autosport magazine in 1985 and was on the fulltime staff from 1987-92. He then went freelance again, initially spending two years in Japan before following the 1994 Champcar series from a base in Indianapolis. He has not missed a Grand Prix since Suzuka ‘94, a run that has extended to Abu Dhabi ’10. Adam has written books about Eddie Irvine, Piers Courage and Michael Schumacher. He has written about F1 for SPEED.com since 2005. Check out Adam's Blog or follow him on Twitter.
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