Mercedes-Benz, the engine supplier and partner of the Mclaren F1 team has now taken over 75.1% of Brawn GP, thereby renaming it as Mercedes GP. Mercedes has taken a brave move at a time when rivals like BMW and Toyota have quit over the weak global economy. Further, to put all rumors to rest, the firm also increased its commitment to the sport by increasing its financial commitments to the team.

Mercedes-Benz currently holds 40% stake in Mclaren F1 which the firm will sell back to the McLaren Group over the next two years. Dieter Zetsche, chief of Mercedes conveyed in a press meeting on Monday that the firm was now ready to have its own factory team and Ross Brawn would remain in charge of the new outfit. “Mercedes will compete in the F1 world championship next year starting with its own factory team,” he said. “The interests of Daimler are aligned, therefore it will be a true Mercedes-Benz team. Ross Brawn will continue as team principal.”

Although Mercedes holds 75.1%, the actual split up goes like this – 45.1% comes from Daimler while the other 24.9% will be funded by an Abu Dhabi based investment group. The last bit of share, the remaining 24.9% will be split up between Ross Brawn, Nick Fry and other board members.

Mclaren have extended their engine deal with Mercedes till the end of 2015. The current deal was to end in 2011. The extension means that Mercedes would remain a key strategic partner for the Woking-based outfit. World champion Jenson Button is expected to partner Lewis Hamilton at Mclaren throwing open both the places at Mercedes GP. German Nico Rosberg is expected to take charge as the lead driver although Mercedes motorsport boss Norbert Haug keen on signing Nick Heidfeld as his team-mate. Haug will also be tasked with co-ordinating the new Mercedes GP team.

Ron Dennis, chairman of McLaren Group, said: “This is a win-win situation, for both McLaren and Daimler.” The firm’s trademark silver-red paint scheme will remain intact. “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.”

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