MSP Sports Capital acquires minority stake in McLaren

13 December 2020 - 11:49 By Reuters
Carlos Sainz of Spain driving the (55) McLaren F1 Team MCL35 Renault on track during qualifying ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 12, 2020 in Abu Dhabi, United Arab Emirates.
Carlos Sainz of Spain driving the (55) McLaren F1 Team MCL35 Renault on track during qualifying ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 12, 2020 in Abu Dhabi, United Arab Emirates.
Image: Giuseppe Cacace - Pool/Getty Images

US-based investment group MSP Sports Capital are taking a significant minority stake in the McLaren Formula One team, McLaren Racing said in a statement on Sunday.

The deal, for an initial 15% holding that will rise to a maximum 33% by the end of 2022, will value the British racing outfit at £560m (roughly R11.3bn), it added.

Under the deal, MSP will put £185m (roughly R3.7bn) into McLaren Racing over a two-year period.

The consortium members include The Najafi Companies, a private investment firm, and UBS O'Connor, a hedge fund subsidiary of Swiss investment banking firm UBS.

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.

Bahrain's Mumtalakat holding company is the majority shareholder in McLaren Group. The Woking-based outfit have won the F1 constructors' championship eight times.


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