Mercedes-Benz have announced today that it will be taking over the Brawn GP team after buying a 75.1 per cent stake in the squad.
The move comes after much speculation and rumours throughout the year, the Daimler owned company also announced that it will be renewing it’s engine deal with the McLaren team until at least 2015, the German manufacturer will also be selling it’s 40 per cent stake in the team back to McLaren over the next two years.
This move also strengthens rumours that Jenson Button will be heading to the McLaren team as it is thought the newly re-named Mercedes Grand Prix team will pair up Nico Rosberg and Nick Heidfeld.
“Mercedes will compete in the F1 world championship next year starting with its own factory team,” said head of Mercedes cars, Dr Dieter Zetsche.
“This is possible by the agreed acquisition of 75.1 per cent of Brawn GP, 45.1 per cent from Daimler and 30 per cent from our partner Aabar Investments. The rest will be with the current share – Ross Brawn, Nick Fry and other members. The interests of Daimler are aligned therefore it will be a true Mercedes-Benz team.
“Ross Brawn will continue to be the team principal and thereby we are maintaining his strength. Just like the engine team at Mercedes Benz High Performance Engines, the new Mercedes Benz grand prix team will be co-ordinated by Mercedes Benz Motorsport which is as everybody knows headed by Norbert Haug.”
The team will continue to run from it’s current headquarters in Brackley rather than moving to a new facitlity.
Ross Brawn announced his happiness in the announcement and admitted that he couldn’t of imagined such a big partnership happening just 11 months after Honda pulled their backing out of the sport.
“Both I and my fellow directors at Brawn GP are incredibly proud of our staff, drivers and everyone associated with our team and thank them for their commitment, outstanding teamwork and their focus on achieving results in sometimes difficult circumstances,” he said.
“The senior management group will remain in place to lead our team and on behalf of everyone at Brawn GP, we are honoured to be representing such a prestigious brand as Mercedes-Benz in Formula One next year and will be working together to do our best to reward their faith in our team.”