Mercedes set to take control of McLaren: report

0 Comments | AFP, January, 2008

BERLIN (AFP) — Germany's Daimler AG's Mercedes plans to extend its stake in Formula One team McLaren to a majority share, Auto Motor und Sport magazine reported on Wednesday which could lead to the departure of the team's long-time boss Ron Dennis.

The magazine cited sources close to the dossier as saying talks with Daimler's Mercedes arm have already reached agreement with McLaren and a deal should be announced before the season starts in mid-March.

Mercedes has been the motor partner of the British stable since 1995 and currently holds a 40 percent stake, while Dennis holds 15 percent, as does his business partner Mansour Ojjeh.

A spokesman for Daimler would not confirm the report.

Such a move could see the end to Dennis' reign. His position was...