Bahrain's Mumtalakat and Abu Dhabi's CYVN Holdings took full ownership of McLaren Racing on Tuesday in a deal some media reports said valued the reigning Formula One champions at more than $4 billion.
No financial details were given in a McLaren Group statement confirming the purchase of all shares held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds and Caspian Funds.
Sky News earlier reported the sale of the 30 per cent stake would value the team at more than three billion pounds ($4.05 billion).
Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN, majority-owned by the government of Abu Dhabi, having a non-controlling stake.
CYVN created McLaren Group Holdings last April after completing its acquisition of sportscar maker McLaren Automotive.
McLaren Racing runs teams in Formula One, U.S.-based IndyCars and will enter the World Endurance Championship from 2027.
U.S.-based investment group MSP and others took a significant minority stake in 2020, when McLaren were in need of funds during the COVID-19 pandemic.
The deal, for a maximum 33 per cent stake by 2022, valued the British racing outfit at 560 million pounds at the time.
Since then McLaren have emerged as a dominant force in the sport, winning the constructors' title last year for the first time since 1998 and on course to win both titles this season.
"Our suite of minority investors came on board in 2020 and we thank them for their tremendous support over the past few years as we set McLaren Racing on a path to commercial growth and financial stability," said McLaren Group Executive Chairman Paul Walsh.
He said the simplified ownership structure "strengthens our ability to
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