Naith
16-11-2009, 12:32:46
German car giant Mercedes has bought the Brawn Formula 1 team in a move that is likely to see Jenson Button join McLaren as Lewis Hamilton's team-mate.
Mercedes will buy 75% of Brawn in partnership with an Abu Dhabi investment company but will continue as McLaren's engine partner until 2015.
Brawn, who won both world titles in their debut season in 2009, will be rebranded as Mercedes Grand Prix.
Nico Rosberg will be their lead driver, with Nick Heidfeld his likely partner.
Neither driver has yet been confirmed but Rosberg, who drove for Williams in 2009, is widely known throughout F1 to have already signed for the Mercedes team.
As part of a deal that will see the McLaren Group buy back Mercedes's 40% shareholding by 2011, the German company will continue to supply free engines and sponsorship to the team for at least the next six years.
It's a win-win situation, both for McLaren and Daimler
Ron Dennis
McLaren boss
The team's official name will remain Vodafone McLaren Mercedes.
McLaren chairman Ron Dennis described the deal as "a win-win situation, both for McLaren and Daimler".
Button, who won the drivers' title this year, has been trying to secure a pay-rise from his £3.5m salary but it seems Mercedes is not interested in keeping him on.
He and his manager Richard Goddard visited McLaren on Friday and Button is now expected to join the Woking-based team for a salary around double what Brawn were offering.
Button's decision is understood not to be solely about money - sources say he considers McLaren might have a more competitive car than Brawn in 2010.
Mercedes Sports boss Norbert Haug said on Sunday that he was trying to secure a drive for Heidfeld, a former Mercedes protege who has driven for BMW since 2006.
"We are speaking with Nick Heidfeld as well," Haug told the German news agency GPA.
Mercedes by into a team that has the championship once compared several times by McLaren
Rhodsey_F1
"Mercedes-Benz supports the idea of signing an experienced and capable German driver. There is however no reason to finalise the driver situation too hastily."
Ross Brawn will stay on as team principal.
He and chief executive Nick Fry will retain a 24.9% shareholding in the team. The remaining 75.1% will be split between Mercedes, which will own 45.1% and Abu Dhabi company Aabar Investments, which will own 30%.
Brawn said: "Brawn GP has been through an incredible journey over the last 12 months. From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the constructors' and drivers' world championships, and now accepting Daimler and Aabar's offer to buy our team, which will secure its future."
McLaren and Mercedes said one of the reasons for them to split was because of McLaren's road-car building ambitions.
McLaren is launching a high-performance sports car called the MP4-12C in 2011.
Dennis said: "I've often stated that it's my belief that, in order to survive and thrive in 21st Century Formula 1, a team must become much more than merely a team.
"That being the case, in order to develop and sustain the revenue streams required to compete and win grands prix and world championships, companies that run Formula 1 teams must broaden the scope of their commercial activities.
"In the MP4-12C, which will be introduced to market in 2011, we have a car that has inherited the genes of the iconic McLaren F1 of 1994 and has already been the subject of much global media acclaim."
More to follow.
Mercedes will buy 75% of Brawn in partnership with an Abu Dhabi investment company but will continue as McLaren's engine partner until 2015.
Brawn, who won both world titles in their debut season in 2009, will be rebranded as Mercedes Grand Prix.
Nico Rosberg will be their lead driver, with Nick Heidfeld his likely partner.
Neither driver has yet been confirmed but Rosberg, who drove for Williams in 2009, is widely known throughout F1 to have already signed for the Mercedes team.
As part of a deal that will see the McLaren Group buy back Mercedes's 40% shareholding by 2011, the German company will continue to supply free engines and sponsorship to the team for at least the next six years.
It's a win-win situation, both for McLaren and Daimler
Ron Dennis
McLaren boss
The team's official name will remain Vodafone McLaren Mercedes.
McLaren chairman Ron Dennis described the deal as "a win-win situation, both for McLaren and Daimler".
Button, who won the drivers' title this year, has been trying to secure a pay-rise from his £3.5m salary but it seems Mercedes is not interested in keeping him on.
He and his manager Richard Goddard visited McLaren on Friday and Button is now expected to join the Woking-based team for a salary around double what Brawn were offering.
Button's decision is understood not to be solely about money - sources say he considers McLaren might have a more competitive car than Brawn in 2010.
Mercedes Sports boss Norbert Haug said on Sunday that he was trying to secure a drive for Heidfeld, a former Mercedes protege who has driven for BMW since 2006.
"We are speaking with Nick Heidfeld as well," Haug told the German news agency GPA.
Mercedes by into a team that has the championship once compared several times by McLaren
Rhodsey_F1
"Mercedes-Benz supports the idea of signing an experienced and capable German driver. There is however no reason to finalise the driver situation too hastily."
Ross Brawn will stay on as team principal.
He and chief executive Nick Fry will retain a 24.9% shareholding in the team. The remaining 75.1% will be split between Mercedes, which will own 45.1% and Abu Dhabi company Aabar Investments, which will own 30%.
Brawn said: "Brawn GP has been through an incredible journey over the last 12 months. From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the constructors' and drivers' world championships, and now accepting Daimler and Aabar's offer to buy our team, which will secure its future."
McLaren and Mercedes said one of the reasons for them to split was because of McLaren's road-car building ambitions.
McLaren is launching a high-performance sports car called the MP4-12C in 2011.
Dennis said: "I've often stated that it's my belief that, in order to survive and thrive in 21st Century Formula 1, a team must become much more than merely a team.
"That being the case, in order to develop and sustain the revenue streams required to compete and win grands prix and world championships, companies that run Formula 1 teams must broaden the scope of their commercial activities.
"In the MP4-12C, which will be introduced to market in 2011, we have a car that has inherited the genes of the iconic McLaren F1 of 1994 and has already been the subject of much global media acclaim."
More to follow.