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The McLaren Formula One team is to be valued at over £3bn in a deal that will reap a stellar return for the investors which helped bail out its parent company during the pandemic.
Sky News can exclusively reveal that McLaren Group’s owners – Mumtalakat, the Bahraini sovereign wealth fund, and Abu Dhabi-based automotive investment group CYVN Holdings – are to buy out the 30% stake in McLaren Racing that they do not already own.
Sources said the deal, which will give the two Gulf investors full ownership of McLaren Racing, could be announced as soon as Tuesday.
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If confirmed, a transaction would value McLaren Racing at over £3bn, the sources said, underlining the resurgent performance of its motorsport operations under chief executive Zak Brown.
McLaren driver Oscar Piastri won last weekend’s Dutch Grand Prix at Zandvoort, with McLaren holding an apparently impregnable grip on this year’s F1 constructors’ championship.
Briton Lando Norris sits in second place in the drivers’ rankings, behind his Australian team-mate.
The deal will involve Mumtalakat and CYVN acquiring the stakes in McLaren Racing currently owned by MSP Sports Capital, Ares Investment Management, UBS O’Connor and a number of other small shareholders.
MSP Sports Capital spearheaded a deal announced in 2020 to buy an initial 15% stake in McLaren Racing which gave the business a post-money valuation of £560m.
The deal provided urgently needed capital to the wider McLaren Group, whose automotive arm’s finances were placed in a parlous state by the pandemic.
McLaren Group engineered a series of capital injections, the sale of its Applied Technologies division and the sale-and-leaseback of its spectacular Surrey headquarters in a bid to strengthen its balance sheet.
The £3bn-plus valuation at which the 30% stake is expected to change hands this week reflects the stronger financial position of the broader McLaren Group, as well as…
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