Mercedes-Benz has secured a 75 percent controlling interest in Brawn GP with former team boss Ross Brawn remaining at the helm.
German car maker end association with McLaren
Mercedes-Benz has confirmed that it has taken over constructors champions Brawn GP.
The team will now be known as Mercedes Grand Prix after the German car manufacturer secured a 75.1 per cent controlling interest.
Mercedes had supplied the engines for the team last season - with both Brawn and its driver Jenson Button celebrating title success.
It was a memorable debut season for Brawn GP, who rose from the ashes after Honda's decision to quit the sport.
Statement
"Mercedes-Benz will enter the Formula One World Championship with its own team, beginning with the 2010 season, and Daimler AG and McLaren Group will change their form of cooperation with effect as of 13 November 2009. This was announced by Daimler AG today," read a statement on Brawn GP's website.
"Daimler AG together with Aabar Investments PJSC will take over 75.1% of the Brawn GP team, with Daimler taking 45.1% and Aabar 30%. The rest of the 24.9% will remain with the current stakeholders."
Although team principal Ross Brawn is expected to remain in his role with the new team, the future of world champion Button remains unclear.
Mercedes are believed to be ready to plump for Nico Rosberg as their number one driver and partner him with fellow German Nick Heidfeld. That would leave the door open for Button to move to McLaren.
"We are speaking with Nick Heidfeld as well," Mercedes Sports boss Norbert Haug told
DPA.
"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."
Mercedes will continue to supply engines for McLaren for the next five seasons - with the team continuing to be known as Vodafone McLaren Mercedes.
Win-win situation
However McLaren are to buy the 40 per cent interest owned by Daimler AG - the parent company of Mercedes - by 2011.
McLaren executive chairman Ron Dennis said in a statement on the team's website,
www.mclaren.com: "This is a win-win situation, for both McLaren and Daimler.
"Because the engines they produce are very competitive, we're delighted that Mercedes-Benz has committed to continue not only as an engine supplier but also as a partner of ours until 2015 - and perhaps thereafter.
"The next few years will be a very exciting time for McLaren, during which period we intend to become an ever-stronger technological and economic force."
