McLaren F1 team set for £3bn valuation after stake sale
McLaren F1 is set for a £3bn valuation after two shareholders buy out the minority stakes they don’t already own.
The sovereign wealth fund of Bahrain, Mumtalakat, and UAE-based investment group CYVN Holdings are set to buy out the 30 per cent holding in McLaren Racing that is not currently theirs, according to Sky News’ Mark Kleinman.
That minority shareholding is currently held by a mix of MSP Sports Capital – whose portfolio includes the X Games and football clubs Estoril Praia, AD Alcorcon, SK Beveren, Augsburg and Brondby IF – and a number of other investors.
Those smaller investors include UBS O’Connor and Ares Investment Management, among others.
The sale would value McLaren Group’s Formula 1 racing arm – McLaren Racing – at £3bn, recognising the surge in popularity of the motor racing outfit.
McLaren announced a title sponsorship deal with Mastercard last week, worth an estimated $100m per season.
Aston Martin was valued at £2.4bn in July this year after an agreement was reached with a binding letter of intent – with an unnamed buyer – for a minority stake sale in Aston Martin Lagonda Holdings.
McLaren deal on Tuesday?
The deal could be announced on Tuesday in a move that would see 100 per cent of McLaren Racing owned by Gulf entities. The brand was founded by Bruce McLaren in 1963.
The papaya side, run by American chief executive Zak Brown, won their first constructors’ championship since 1998 last year and are on course to repeat that feat this season.
Their two Formula 1 drivers – Lando Norris and Oscar Piastri – are fighting for the solo championship, with a papaya racer set to claim the title for the first time since Lewis Hamilton won his first championship in 2008.
Australian Piastri won the Dutch Grand Prix at the weekend while Brit Norris failed to finish in Zandvoort.
McLaren Group Ltd own McLaren Racing while the CYVN Holdings-owned McLaren Group Holdings has a complete 100 per cent ownership stake in McLaren Automotive.