The move has led reports that newly crowned Formula 1 World Champion Jenson Button will now switch to Vodafone McLaren Mercedes, although sources close to McLaren say the move remains unlikely.
Mercedes will take a controlling stake in Brawn and has extended its relationshihp with McLaren until 2015.
Mercedes-Benz will power McLaren's Formula 1 cars for a further six seasons having begun its association with the team in 1995. McLaren Group will now purchase Daimler AG's 40% shareholding by 2011, making the company fully independent business.
Seperately, McLaren Automotive will be spun out of the McLaren Group. The decision means that from 2011, McLaren Automotive will begin to manufacture its own range of high-performance production sports cars.
McLaren Group will continue to operate as the parent company of McLaren Racing, McLaren Marketing, McLaren Electronic Systems, Mclaren Applied Technologies and McLaren Electronics Inc (in the US).
This article was first published on marketingmagazine.co.uk