Formula 1
Formula 1
28 Mar
FP1 in
28 days
R
Emilia Romagna GP
18 Apr
Race in
51 days
09 May
Next event in
68 days
23 May
Race in
86 days
R
Azerbaijan GP
06 Jun
Race in
100 days
13 Jun
Race in
107 days
27 Jun
Race in
121 days
04 Jul
Next event in
124 days
18 Jul
Race in
142 days
R
Hungarian GP
01 Aug
Race in
156 days
29 Aug
Race in
184 days
05 Sep
Race in
191 days
12 Sep
Race in
198 days
26 Sep
Race in
212 days
R
Singapore GP
03 Oct
Next event in
215 days
10 Oct
Race in
226 days
R
United States GP
24 Oct
Race in
240 days
31 Oct
Race in
247 days
R
Australian GP
21 Nov
Race in
268 days
R
Saudi Arabia GP
05 Dec
Race in
282 days
R
Abu Dhabi GP
12 Dec
Race in
289 days

McLaren announces stake sale in Racing arm

McLaren has confirmed that it has sold a minority stake in its Formula 1 team to a US-based consortium as part of a £185 million investment deal.

shares
comments
McLaren announces stake sale in Racing arm

As reported on Saturday, McLaren is entering a partnership with a consortium led by sports investment group MSP Sport Capital, which is joining forces with UBS O’Connor, LLC. and The Najafi Companies.

MSP will acquire a 15 percent stake in McLaren initially, but will increase its shareholding to a maximum of 33 percent by the end of 2022. The deal values the McLaren team at £560 million.

There will be change in the day-to-day management at the team, with CEO Zak Brown committing his long term future there, while Paul Walsh will remain as chairman.

However new investor Jahm Najafi will sit alongside Shaikh Mohammed bin Essa Al Khalifa as vice-chairmen.

Furthermore, Jeff Moorad of MSP Sports Capital and Rodrigo Trelles Zabala of UBS O’Connor are appointed to the board of directors of McLaren Racing, alongside Sultan Ojjeh and Will Griffiths of McLaren Group.

Brown said: “This investment represents a key moment in the progress of McLaren Racing. 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.”

Read Also:

With the McLaren group having faced financial troubles this year as a result of the coronavirus pandemic, the arrival of new investors will be a massive boost to the F1 team as it bids to build on a successful 2020 campaign.

Back in June, the Woking-based operation agreed a £150 million loan arrangement with the National Bank of Bahrain to help increase liquidity amid mounting concerns over a short term cash flow problem.

It is also looking at further company restructuring to help secure its future, and is in the process of selling its factory so it can then lease it back.

Related video

Stroll "surviving" on engine miles as P3 battle heats up

Previous article

Stroll "surviving" on engine miles as P3 battle heats up

Next article

Wolff: Bottas won’t lose 2021 Mercedes seat to Russell

Wolff: Bottas won’t lose 2021 Mercedes seat to Russell
Load comments

About this article

Series Formula 1
Teams McLaren
Author Jonathan Noble
The pros and cons of F1's 2021 rule changes Prime

The pros and cons of F1's 2021 rule changes

In the strategy for grand prix racing's future, 2021 represents a significant step towards the goal of closer racing and a more level playing field. That's the theory behind the latest raft of changes, but will they have the desired effect?

Formula 1
Feb 24, 2021
What Red Bull is trying to hide with its RB16B launch Prime

What Red Bull is trying to hide with its RB16B launch

Red Bull made no secret of the fact its 2021 F1 car is an evolution of its predecessor, but in keeping the same foundations while hiding some tightly-guarded updates with its RB16B, the team aims to avoid suffering the same pitfalls of previous years

Formula 1
Feb 23, 2021
How Albon plans to fight his way out of Red Bull limbo Prime

How Albon plans to fight his way out of Red Bull limbo

Alex Albon has faced the media for the first time since he lost his Red Bull drive at the end of 2020 and dropped out of a Formula 1 race seat altogether. He has a history of bouncing back from setbacks, so here's what he must do to rise again

Formula 1
Feb 23, 2021
Ranked! Carlin's greatest F1 graduates Prime

Ranked! Carlin's greatest F1 graduates

Carlin has helped guide enough drivers to Formula 1 to fill out an entire grid, plus a handful of reserves, to create a remarkable alumni list. With Yuki Tsunoda set to join that group, Motorsport.com has ranked its graduates to grace the grand prix scene...

Formula 1
Feb 22, 2021
Why Alfa's 2021 launch says more about its 2022 plans Prime

Why Alfa's 2021 launch says more about its 2022 plans

Alfa Romeo launched its C41 with a revised front nose, but there's little to suggest it will surge up the leaderboard in 2021. As the team frankly admits, it's putting its eggs in the basket labelled 2022 and hoping to hold the eighth place it earned last year

Formula 1
Feb 22, 2021
Why Gasly’s AlphaTauri haven is a blessing and a curse Prime

Why Gasly’s AlphaTauri haven is a blessing and a curse

Red Bull opted not to re-sign Pierre Gasly even before it decided to drop Alex Albon and so the Frenchman's Formula 1 journey will continue at AlphaTauri. This has positive and negative connotations for one of last season's star performers.

Formula 1
Feb 20, 2021
Eight things Red Bull must do to beat Mercedes in 2021 Prime

Eight things Red Bull must do to beat Mercedes in 2021

After seven years of defeat at the hands of Mercedes, Red Bull is as hungry as ever to secure a fifth world championship. But there are key challenges it must overcome in 2021 to switch from challenger to conqueror

Formula 1
Feb 19, 2021
How AlphaTauri has adapted to F1's new rules Prime

How AlphaTauri has adapted to F1's new rules

AlphaTauri launched its AT02, complete with a new livery, as it bids to home in on an already-tight midfield battle. Although there were few outright new parts displayed on the launch render, there might be a few clues into further changes down the line…

Formula 1
Feb 19, 2021