Apple linked with McLaren takeover

Technology giant Apple has been linked with a takeover of McLaren, according to a report in the respected newspaper the Financial Times.

Apple linked with McLaren takeover
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Apple computer
Jenson Button, McLaren MP4-31
McLaren 570 GT
McLaren 570 GT
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The story suggests that Apple has approached the McLaren Technology Group, which encompasses the McLaren Formula 1 team, McLaren Automotive and McLaren Applied Technology.

Citing three people briefed on the negotiations as its source for the story, the Financial Times claims that negotiations have begun about a deal that could result in either a full takeover or a strategic investment.

Apple's interest in McLaren would be likely linked to its plans to transform the automotive industry in the same way that it has changed the smartphone market.

It has been working on a self-driving electric cars for several years now, with recent speculation suggesting that it would enter the industry segment in partnership with a current car manufacturer rather than going it alone.

The Financial Times suggested that McLaren Technology Group could be valued at between £1 billion and £1.5 billion – with McLaren Automotive having generated revenues of £450 million last year.

McLaren denies investment talks

McLaren has quickly moved, however, to deny suggestions that Apple is poised to take a stake in the team.  

A spokesman made it clear that any talks it is having did not involve a plan for investment.

"We can confirm that McLaren is not in discussion with Apple in respect of any potential investment," he said.

"As you would expect, the nature of our brand means we regularly have confidential conversations with a wide range of parties, but we keep them confidential.”

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