F1: a new American shareholder for the McLaren team

F1: a new American shareholder for the McLaren team

The American investment fund specializing in sports MSP Sports Capital becomes a minority shareholder of the British Formula 1 team McLaren, she announced on Sunday.

“MSP Sports Capital will invest a total of 185 million pounds sterling (200 million euros, editor’s note) in McLaren Racing, acquiring an initial 15% stake which will be increased to a maximum of 33% by the end of 2022 ( …) the McLaren group remaining the majority shareholder, ”the press release said.

“The operation values ​​McLaren Racing at 560 million pounds sterling (610 million euros)”, also indicates the McLaren group, which in addition to F1 produces sports cars and develops advanced technologies.

The car manufacturer sector also remains “100% owned by the group and is not part of this transaction”.

“This new investment strengthens our plan to put McLaren back in the race for victories and titles in Formula 1 and IndyCar (North American single-seater championship)”, explains the American Zak Brown, who remains CEO of McLaren Racing.

The group has experienced financial difficulties following the coronavirus crisis.

In June, a loan agreement of 150 million pounds sterling (164 million euros) was reached with the National Bank of Bahrain. It is also planned to transfer ownership of the Woking plant (in Great Britain) to remain a tenant there.

McLaren is notably owned by the sovereign wealth fund of the Kingdom of Bahrain and the Franco-Saudi businessmen Mansour Ojjeh and Iranian-Canadian Michael Latifi (the father of Williams’ driver Nicholas Latifi).

MSP Sports Capital is particularly involved in the NBA and in the sports media ESPN.

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