Abu Dhabi (dpa) – The traditional British Formula 1 racing team McLaren has secured its future by selling shares to a group of investors.
According to an announcement, US-based MSP Sports Capital, which specializes in sports investments, will initially acquire 15 percent of the company’s shares in the racing division. This should be increased to 33 percent by the end of 2022, and the McLaren sale will bring in £ 185 million (about 202 million euros). The British McLaren Group will remain the majority shareholder for the long term.
“This new investment reinforces our plan to fight again with McLaren for victories and titles in Formula 1 and IndyCar,” said McLaren Managing Director Zak Brown, adding, “This investment is a pivotal moment for McLaren Racing’s progress. It will reinforce the positive momentum that “we will continue to focus tirelessly on our mission to be back on top of the podium.”