Mercedes completes Brawn buyout

Mercedes GP Formula 1 team is now fully owned by the car manufacturer after its parent company bought remaining shares from former Brawn GP team management.

Daimler AG and Aabar acquired the final 24.9% from Ross Brawn and his management partners, whose F1 team was taken over by Mercedes in 2009.

Brawn, now the Mercedes GP team principal, says the move is positive.

"It's a further step in strengthening for the future," he said. "I remain fully committed for the long term."

He added: "Motor racing, particularly F1, is a very specialised industry and we are privileged to have such strong and understanding partners as Daimler and Aabar to support our joint ambitions.

"I remain fully committed to our team for the long term, along with the management team and all of our employees. We all look forward to the challenge of making our team successful, and proudly representing Mercedes-Benz and the racing tradition of the Silver Arrows."

The new shareholding structure means Daimler AG owns 60%, with Aabar taking control of the remaining 40%.

Dr Dieter Zetsche, the CEO of Daimler AG, said that taking total control of Mercedes GP was a statement of intent about his company's ambitions of remaining in the sport.

"The acquisition of a majority stakeholding in our Silver Arrows team sends a clear signal that we intend to achieve technical and sporting success on world motorsport's biggest and most important stage - and to do so in cost-effective conditions," he said. Mercedes GP recently appointed former Renault design engineer Bob Bell as their new technical director, a move designed to allow Brawn more freedom to operate in his own role.

Seven-times world champion Michael Schumacher and Nico Rosberg - both Germans - will race for Mercedes GP this season.

Source: BBC Sport Click Here