McLaren Racing’s Acquisition of Mercedes-Benz Formula E Team

In UK Ashurst, advised on the matter.

Ashurst advised McLaren Group with a team including Nigel Parr (Competition Law), Rob Aird (Picture – Corporate M&A), Crowley Woodford (Employment), Nicholas Gardner (Tax M&A and Deal Advisory).

McLaren Racing acquired Mercedes-Benz Formula E Team from Mercedes-Benz Holdings UK Limited and marking McLaren’s entrance to Formula E.

McLaren Racing will compete in Formula E, beginning with the 2022/2023 ABB FIA Formula E World Championship, with the team being formed through the acquisition of the Mercedes-EQ Formula E Team, expected to complete later this year. This will see the reigning champion team become part of the McLaren Racing family.

The decision to enter Formula E follows McLaren Racing signing an option in January 2021 to participate in Season Nine and a period of evaluation, during which time the team entered the Extreme E all-electric off-road series. The move into Formula E not only reflects McLaren’s commitment to EV motorsport but the aim to accelerate McLaren Racing’s sustainability journey and reach a new, more diverse global audience.

The Ashurst team advising McLaren was led by McLaren co-relationship and corporate partner Rob Aird (Picture) and senior associate Shaz Ali, with support from associate Ria Shah. Partners Crowley Woodford, Nigel Parr, Nicholas Gardner, counsel John Gordon, senior associate Christopher Eberhardt and associates Emily Bodger, Hayden Dunnett and Oliver Passmore also advised.  
 

Involved fees earner: Christopher Eberhardt – Allen & Overy; Rob Aird – Ashurst; Shaz Ali – Ashurst; Nicholas Gardner – Ashurst; John Gordon – Ashurst; Nigel Parr – Ashurst; Crowley Woodford – Ashurst;

Law Firms: Allen & Overy; Ashurst;

Clients: McLaren Group;

Author: Giulia Di Palma