Mercedes-Benz has bought the Brawn GP Formula One team in a move that could see Jenson Button join Lewis Hamilton at McLaren next season.

The German manufacturer now owns a 75.1 per cent stake in Brawn, which will be rebranded as the Mercedes GP team from next season. Ross Brawn will remain in his role as team principal, working alongside Norbert Haug, the director of motor sport at Mercedes-Benz. The future of Brawn's drivers is less certain.

German-born Nico Rosberg will sign from Williams for next season and it is thought that Mercedes want him as the figurehead of a German-led operation at Brawn. Despite having won the world championship last month, Button has been unable to negotiate a substantial pay rise from Brawn and believes that he is being pushed towards a deal with McLaren.

Even though that would form a “dream team” of successive English world champions, Button has been hurt by the failure of Brawn to come up with a deal he believes would confirm his new status. The Somerset-born driver, 29, took a £5 million pay cut to £3 million last season, but expected recognition of his loyalty after winning the championship. He has been offered a £4m a year pay deal by Brawn.

As part of the deal to buy Brawn, Daimler AG, Mercedes' parent company, has relinquished its 40 per cent stake in McLaren, but will continue to supply the team's engines for the next six seasons.

From being down and out when Honda, the Japanese carmaker, quit Formula One a year ago, the team has been revived under Brawn, who delivered the constructors' world championship last season. Brawn said he was delighted with the deal and hoped the team could build upon last season's success.

"We are honoured to be representing 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," Brawn said. "Brawn GP has been through an incredible journey over the last 12 months. From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the constructors and drivers world championships, and now accepting Daimler and Aabars offer to buy our team, which will secure its future."

Daimler AG posted net losses of $1.51 billion during the second quarter of the year and board member Helmut Lense said earlier this year that Mercedes should end its expensive involvement in the sport.