Zak Brown, the new exec in charge of the McLaren Formula One team, is "hunting for a main sponsor in an effort to steer a turnround of the British racing group," according to Murad Ahmed of the FINANCIAL TIMES. The American sports marketing veteran, appointed exec director of McLaren Technology Group last month, "takes over at a critical time" for the U.K. business and the future of global racing car series. He was hired by McLaren a week after the ousting of Chair & CEO Ron Dennis, after Dennis had a "falling out with co-investors." Brown said, "There’s trouble between [McLaren’s shareholders and Dennis]. It doesn’t take a rocket scientist to figure that out ... I’ve deliberately kept my space and know that what all shareholders want are world championships." McLaren has been without a main “title” sponsor since its deal with Vodafone, worth $75M a year, expired in '13. Brown admitted finding a new title sponsor by next season "is unlikely," but added, "I definitely would be shocked if I didn’t have some commercial contribution in 2017." He will "lead McLaren's overall commercial, marketing and racing efforts," alongside COO Jonathan Neale. McLaren is "searching" for a CEO to directly replace Dennis. Brown "concedes new funding is necessary to drag McLaren back up the grid." He estimates that the sport's top-ranked teams -- Mercedes, Ferrari and Red Bull -- each outspent McLaren by $100M last season (FT, 12/30).
