Official: McLaren confirms withdrawal from Formula E & seeks new team owner

The McLaren Formula E team confirmed on Friday morning that it will withdraw from Formula E after the current 2024/25 season. The background is - as already reported on Thursday - the British team's new motorsport programme in the World Endurance Championship (WEC). McLaren CEO Zak Brown is currently looking for a new owner for the racing team. Formula E surprises with partly contradictory statements on the timing of the exit.

"McLaren Racing today announced that following a strategic review of its racing portfolio, the decision has been taken not to continue participation in the FIA Formula E World Championship beyond the current 2024/25 season", according to the official statement from the Woking-based sports car manufacturer. "McLaren Racing has always been committed to innovation and excellence in motorsport, and our participation in Formula E has been an important part of that journey. We are confident that the series will continue to be an important part of the diverse motorsport landscape."

"However, we also recognise the importance of being focused and strategic in all our racing activities," the press release continues. "This decision will allow us to maximise future growth opportunities in our key markets and continue to offer our partners a diverse and impactful sponsorship ecosystem in the ever-evolving motorsport landscape."

McLaren Racing will be the only motorsport team to compete in Formula 1, the IndyCar Series and the World Endurance Championship from 2027. "As the only team to have won the prestigious 'Triple Crown' - the Monaco Grand Prix, the Indy 500 and the 24 Hours of Le Mans - McLaren Racing is in a unique position to once again challenge for this incredible honour."

Zak Brown: "Exploring other opportunities that better fit the strategic direction"

"We are super proud of what we have achieved in Formula E and the series is an important part of the overall motorsport landscape, but now is the right time to explore other opportunities that better fit with McLaren Racing's overall strategic direction - including our entry into the 2027 FIA World Endurance Championship," says McLaren Racing CEO Zak Brown.

So what's next for the current Formula E team, which once raced under the Mercedes banner? "At the moment we are focussing on setting this great team up for future success by working to find a new owner. The team has made a strong start to the year and we want to finish the season successfully. I would like to thank the team, Formula E, our partners and our fans for their continued support."

Ian James, Team Principal and Managing Director of McLaren Electric Racing, adds: "We have had an incredible journey as a team so far and are rightly proud of our achievements. Since the start of season 9 of the ABB FIA Formula E World Championship, we have been very fortunate to be an integral part of the McLaren Racing family. My heartfelt thanks go to the company, our partners and all our fans for their trust and support, which will see us through to the end of this year's championship. This team is unrivalled in terms of talent - a talent that has delivered great success in the past and will continue to do so in the future."

"Although our chapter at McLaren Racing is coming to an end, we recognise the value and power of Formula E as a world championship and a platform for positive change in an increasingly competitive sport," James continues. "We are already looking at the best options for the team to continue after season 11. Until then, we will do everything we can to end the current chapter of our Formula E adventure in style."

Formula E contradicts the schedule mentioned by McLaren

Formula E itself surprises in a reactive press statement with additional and partly contradictory statements about the timetable for withdrawal: "In response to recent reports, Formula E can confirm that following changes to its sponsorship portfolio, McLaren has informed us of its intention to withdraw its brand from the customer team it currently operates in the ABB FIA Formula E World Championship."

"While this could come into effect at the end of the current season, there is a possibility that the partnership will continue until the end of Gen3 in 2026. We look forward to a successful remainder of the season for the Neom McLaren Formula E Team and will continue to support Ian James and his team through this transition and as they prepare for season 12 and beyond."

Formula E recognises that the commercial landscape in motorsport is dynamic and often changing. "Despite this evolution, the team, led by Ian James, is already in positive discussions with potential partners and investors. We are confident that the team will continue to have a strong presence in the championship, possibly under a new identity. Since entering the series in 2019, the team has won multiple team and driver world championships and is a proven platform for brands looking to compete at the highest level in electric motorsport."

Formula E adventure hardly successful for McLaren so far

McLaren's two-and-a-half-year journey in Formula E has been moderately successful to date. In the first year, Ian James' racing team, which had previously won both world championships twice in a row, only finished eighth in the teams' standings. In the second attempt, they at least moved up one place, but the highlights largely failed to materialise. This season, however, the team is back on track: After five races, McLaren is in third place overall thanks to a strong customer powertrain from Nissan. Young talent Taylor Barnard is fourth in the drivers' standings.

Before the team's exit, there are still a few more Formula E races on the schedule for McLaren. The championship continues in a week's time at the "double-header" in Monaco.