A major new deal is set to significantly boost the value of McLaren's Formula One team.
As per Sky News, McLaren Racing's Middle Eastern investors plans to purchase the shares held by minority owners in deal valuing over £3bn.
This deal will give large profits to the investors like MSP Sports Capital, UBS O'Connor and the Najafi companies who supported the company during the COVID-19 pandemic.
McLaren's current owners, Bahrain's Mumtalakat and Abu Dhabi's CYVN Holdings will buy the remaining 30% stake in McLaren Racing from the investors.
McLaren is now valued at £3 billion, which is more than five times its £560 million valuation from December 2020.
As per the outlet, the deal is expected to be officially announced as early as Tuesday, September 2.
McLaren Racing’s parent company, McLaren Group Limited is taking full ownership by buying out the minority investors and within that structure, Bahrain’s Mumtalakat fund has the main controlling power, while Abu Dhabi’s CYVN Holdings has only a partial stake without authority over key decisions.
After spending over ten years behind stronger rivals like Mercedes and Red Bull, McLaren has risen in the past two years to become the strongest team in Formula 1.
McLaren is also having an outstanding season with both of its drivers, Oscar Piastri form Australia and Lando Norris from Britain competing for the drivers' championship title.
