Formula 1
On November 16, 2009 Daimler purchased a 75.1% stake in Brawn GP. The company was rebranded as Mercedes GP. Ross Brawn will remain team principal and the team will be based in Brackley, UK. However the purchase of Brawn meant that Daimler back its stake in McLaren in stages that ended in 2011. Mercedes will continue to provide sponsorship and engines to McLaren until 2015. Mercedes owns 45.1% of the new company with 30% for Aabar Investments and 24.9% for Ross Brawn. The racing team has signed the former champion Michael Schumacher.
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Famous quotes containing the word formula:
“I cannot give you the formula for success, but I can give you the formula for failure—which is: Try to please everybody.”
—Herbert B. Swope (1882–1958)