PlanetF1

McLaren buy back Merc's shares

Friday 19-March-2010 12:05

McLaren have reportedly bought back the majority of Mercedes-Benz's 40 percent stake in the Woking-based F1 team.

Up until late last year, Mercedes were exclusively in partnership with McLaren, holding a 40 percent stake in the team.

The German carmaker then opted to purchase their own team, buying into last year's Championship-winning Brawn GP outfit and entering this year's campaign as a fully-fledged constructor.

Mercedes continue to supply engines to McLaren, even extending their deal with the Woking outfit. However, they have subsequently sold part of their share in McLaren back to the Woking outfit.

"I think it is about 11 percent that is still owned by Mercedes, but it's not an important or significant number," McLaren team boss Martin Whitmarsh told Reuters.

He added that the shares had been sold to the McLaren Group rather than any of the existing shareholders.