Mercedes-Benz will head up their own Formula One team next season after taking a 75.1 per cent share in Brackley-based Brawn GP, the British-based constructors have confirmed.

Mercedes engines powered Brawn's Jenson Button to the world championship in the recently-completed season and the team also claimed the constructors' championship, while Lewis Hamilton, Button's predecessor as world champion, was also sitting behind a Mercedes engine in his McLaren.

Ross Brawn will remain as team principal. The team will become known as Mercedes Grand Prix, with Brawn in control, while Mercedes-Benz Motorsport vice-president Norbert Haug will work with the F1 team and the engine team of Mercedes-Benz High Performance Engines.

As part of the deal, Mercedes' parent company Daimler AG relinquished their 40 per cent stake in McLaren, but will remain their engine suppliers for the next six seasons.

A statement released on Brawn GP's website,, read: "Mercedes-Benz will enter the Formula One World Championship with its own team, beginning with the 2010 season, and Daimler AG and McLaren Group will change their form of cooperation with effect as of 13 November 2009. This was announced by Daimler AG today.

"Daimler AG together with Aabar Investments PJSC will take over 75.1 per cent of the Brawn GP team, with Daimler taking 45.1 per cent and Aabar 30 per cent. The rest of the 24.9 per cent will remain with the current stakeholders."

The move could have ramifications for the out-of-contract Button, with Mercedes believed to favour an all-German partnership of Nico Rosberg and Nick Heidfeld.

Such a move could see Button link up with Hamilton at McLaren and the 29-year-old from Frome, Somerset, was believed to have toured McLaren's Woking factory last week.