Mercedes has confirmed that it will enter its own te🧸am into Formula One in 2010 after purchasing a controlling stake in defending champions Brawn GP.

The deal will see the Brawn name disappear after just a single season of competition - albeit ♎one that was rewarded with both the drivers' and constru🌄ctors' titles - with the team now operating under the banner of Mercedes Grand Prix.

Under the terms of the dea𒀰l, Daimler and Aabar Investments will take a 75.1 per cent stake in the Brawn team, with Daimler holding 45.1 per cent of the shares and Aabar around 30 per cent. The remaining shares♎ will stay with the current stakeholders.

As a result of the d♔eal with Brawn, Mercedes will now sell its shares in M🎶cLaren back to the McLaren Group, with the deal to be completed by 2011. Mercedes will continue to supply engines to the team through to 2015.

"Mercedes-Benz is the most valued and best-known premium automotive brand in the world," Dr. Dieter Zetsche, CEO of Daimler AG and Head of Mercedes-Benz Cars, said. "This brand looks for competition of the utmost quality in all relevant fields in order to continually improve its performance in the fac🧔e of such new challenges.

"Due to the new Formula 1 environment, we will face the competition in future on the most important motor sporꦡts stage with our own Silver Arrow works team.

"I want to thank McLaren for a successful collaboration over the last decade and a half. For the benefit of both Mercedes and McLaren, we will continue our partnership co-operation in future. We will be rivals on-track but, off-track, w𓃲e will co-operate with McLaren and the other teams in order to create 🔯the best possible product for spectators worldwide."

De♉spite the purchase of the team, Ross Brawn will continue to hold the role of team principal as the Brackley-based squad chases champion🦹ship honours again in 2010.

"Brawn GP has been through an incredible journey over the last 12 mon🦹ths," he said. "From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the Constructors' and Drivers' World Cham-pionships, and now accepting Daimler and Aabar's offer to buy our team, which will secure its fu👍ture.

"Both Iꦦ and my fellow Directors at Brawn GP are incredibly proud of our staff, drivers and everyone associated with o🍰ur team and thank them for their commitment, outstanding teamwork and their focus on achieving results in sometimes difficult circumstances.

"The senior management gr🥃oup will remain in place to lead our team and on behalf of everyone at Brawn GP, we are honoured to be rep-resenting such a prestigious brand as Mercedes-Benz in Formula One next year and will be working together to do our best to reward their faith in our team."