McLaren selling minority stake in F1 team

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 Lando Norris of Great Britain driving the (4) McLaren F1 Team MCL35 Renault on track during qualifying ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 12, 2020 in Abu Dhabi, United Arab Emirates. (Photo by Giuseppe Cacace - Pool/Getty Images)
Lando Norris of Great Britain driving the (4) McLaren F1 Team MCL35 Renault on track during qualifying ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 12, 2020 in Abu Dhabi, United Arab Emirates. (Photo by Giuseppe Cacace - Pool/Getty Images)

• Reports in the UK suggest that a US-based consortium of investors will buy a minority stake in the McLaren Formula 1 team. 

• MSP Sports Capital and other investors will put £185-million into the team over a two-year period. 

• The initial stake will be 15% and rise to 33% by the end of 2022. 


McLaren are selling a minority stake in their Formula 1 team to a consortium of US-based investors in a deal that will value the British racing outfit at £560-million ($740.49-million), Sky News reported on Saturday, citing sources.

The MSP Sports Capital-led consortium would put £185-million into McLaren Racing over a two-year period, Sky News reported, adding that the deal could be announced as early as Sunday.

McLaren Racing and MSP Sports Capital did not immediately respond to a request for comment.

The consortium members included The Najafi Companies, a private investment firm, and UBS O'Connor, a hedge fund subsidiary of Swiss investment banking firm UBS, the report added.

Sky News said that the consortium would initially acquire a 15% stake in McLaren Racing, rising to 33% by the end of 2022.

One of the consortium's principals, Jahm Najafi, will become a vice-chairman of McLaren Racing, while Jeff Moorad of MSP and Rodrigo Trelles Zabala of UBS O'Connor will join the McLaren Racing board as non-executive directors, according to the report.

Bahrain's Mumtalakat holding company is the majority shareholder in McLaren Group. The Woking-based outfit have won the F1 constructors' championship eight times.

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