• 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.
