LONDON: The team known as the NEOM McLaren Formula E Team is set to close down at the end of the current season, as all efforts to find a buyer for the team have been unsuccessful.
After three seasons in Formula E, McLaren has decided to exit the all-electric series to concentrate its efforts on developing a Hypercar for its 2027 entry into the World Endurance Championship.
As a result, team principal Ian James had been actively seeking a buyer to keep the team’s slot in the championship intact, potentially allowing it to continue operating under a different manufacturer’s banner. Although there were reported discussions with several manufacturers, including rumours of interest from Hyundai, a deal failed to materialize.
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It is understood that the team will close down in September, following the end of the 2024-25 Formula E season, and the team’s entry will return to Formula E Holdings.
This marks the second time the team has been put up for sale. Originally founded as the Mercedes Formula E, it was sold to McLaren, which relocated the operation from the Mercedes High Performance Powertrains facility in Brixworth to new premises at Bicester Heritage.
Under McLaren’s ownership, the team transitioned from a manufacturer entity to a customer team for the first year of the Gen3 regulations in 2022-23, taking on Nissan powertrains and continuing that relationship during its duration in the championship.
The collapse of the McLaren Formula E team leaves drivers Sam Bird and Taylor Barnard exploring opportunities elsewhere on the grid. Barnard, a breakout talent this season in his rookie year, has impressed different teams and is expected to attract interest from teams with available seats for the next season, the final season in the Gen3 cycle.
Bird, meanwhile, remains a valuable option for teams seeking experience. The British driver began his Formula E career with Virgin Racing before moving to Jaguar, and has spent the last two seasons with McLaren, delivering the team’s sole victory to date in São Paulo last year.
