Formula 1
NEW INVESTMENT AND CO-OWNERS FOR McLAREN
McLaren Group announced today that it has attracted significant new long-term investment into McLaren Racing led by MSP Sports Capital, the US-based sports investment group, to help drive its plan to return to the top in Formula 1 and continue its growth as a global sports franchise. MSP is co-investing with its strategic partners UBS O’Connor, LLC. and The Najafi Companies.
MSP Sports Capital will invest £185m into McLaren Racing, taking an initial 15 per cent stake that will increase to a maximum of 33 per cent shareholding by the end of 2022.
McLaren says that the transaction values the Racing arm of its company at £560m.
McLaren Group remains the majority shareholder while the transaction does not affect McLaren Automotive.
MSP is co-investing with its strategic partners, UBS O’Connor and the Najafi Companies, and it is the latest investment by the group, having taken stakes in several football teams as part of its expanding portfolio in recent years.
Zak Brown will remain as CEO of McLaren, with Paul Walsh continuing as Chairman, while Jahm Najafi and Shaikh Mohammed bin Essa Al Khalifa will become Vice-Chairmen.
“This investment represents a key moment in the progress of McLaren Racing,” said Brown.
“MSP Sports Capital is first and foremost a sports investor. They know the market and their team has considerable experience and proven success in global sports properties.
“They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing.
“This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium.”
NEW INVESTMENT AND CO-OWNERS for McLAREN NEW INVESTMENT AND CO-OWNERS for McLAREN
NORRIS TWO-TENTHS AWAY FROM POLE
RED BULL FOUND MORE SPEED – HORNER
KEEP UP TO DATE WITH ALL THE F1 NEWS VIA Facebook AND Twitter
-
Formula 111 hours agoPorsche Ends F1 Dreams
-
Formula 13 days agoVerstappen’s bid for fastest lap point leaves Perez surprised and confused
-
Formula 11 week agoMarko’s Departure Could Signal Turmoil Ahead for Red Bull’s Sports Empire
-
Formula 15 days agoHamilton splits with long-time trainer Angela Cullen
-
Formula 13 days agoFernando Alonso’s Controversial Penalty Overturned, Reinstating 100th Podium Finish
-
Formula 15 days agoVerstappen dominates first practice session at Saudi Arabian Grand Prix