The UAE has once again shone the motor sport limelight on itself. Just weeks after the country’s Yas Island entry into the world of Formula 1 was heralded as being one of the most impressive yet, Abu Dhabi’s Aabar Investments has bought a large stake in the Brawn GP team alongside Mercedes-Benz.

The deal is reported to be worth around $ 165m, with Aabar taking 30 per cent and Daimler 45.1 per cent. Ross Brawn will remain in his position as team principal and Nick Fry will stay as CEO. Both retain the remaining 24.9 per cent of shares in the company.

The team will now be renamed Mercedes Grand Prix to reflect the ownership, and along with Ferrari and Renault, the deal will create a third works team in F1.

‘For us at Aabar and International Petroleum Investment Company, [Aabar’s parent firm], this is good marketing and good for tourism in Abu Dhabi,’ said Khadem al Qubaisi, the chairman of Aabar. There are many opportunities for the team to come here and use the Yas Island circuit.’

As for the driver line-up, world champion Jenson Button move to McLaren to form an ‘English dream team’ with Lewis Hamilton, and former Williams driver Nico Rosberg will take his spot. At the time of going to press, it’s not known who the second driver will be, but Nick Heidfeld (another German) is a likely second candidate. And, whisper it, it could even be Schumacher.

If nothing else, Aabar’s and Daimler’s investment in Ross Brawn is a testament to the incredible turnaround the team has had seen since Honda pulled out of Formula 1 at the end of last year.

‘Brawn GP has been through an incredible journey over the last 12 months,’ commented Brawn. ‘From fighting for our survival to forging a strong relationship with Mercedes-Benz high performance engines, winning both the constructor’s and driver’s world championships, and now accepting Aabar and Daimler’s offer to buy our team, which will secure its future.’ He added: ‘We will be working together to do our best to reward their faith in our team.’

As part of the deal, Mercedes has also had to sell its 40 per cent stake in McLaren, with whom it has famously held a long partnership, because McLaren has now branched out into making production cars again, which would’ve put the Woking manufacturer in direct competition with Mercedes and its road cars. Another reason for the change is that Mercedes wanted its own F1 team, and new rules forcing teams to reduce costs has accelerated the move. Further speculation is thought to centre around Stuttgart’s dissatisfaction with the recent scandals McLaren has been involved in within the sport. However, Mercedes will still supply engines to McLaren until at least 2013.

Aabar’s move will undoubtedly raise the Gulf region’s profile in the automotive world. As well as its 9.1 per cent stake in Daimler, Aabar also recently invested in Tesla Motors, maker of the electric sportscar. Adding to that, the Mubadala Development Company holds a 5 per cent stake in Ferrari, Bahrain’s Mumtalakat Holdings has 30 per cent of McLaren and Etihad Airways is famously a sponsor of the Ferrari team.

After Williams recently set up a centre in Qatar to pioneer new car technology, some are even asking how long it’ll be before an F1 car is made in the region.