McLaren Group have received a £185 million investment from US consortium MSP Sports Capital, securing a significant minority stake in the Groups McLaren Racing.
The deal will see MSP Sports Capital take 15 per cent in the Formula One team and, which will rise to a maximum of 33 per cent by the end of 2022.
The US-based investment group already hold stakes in properties involved in global media rights, distribution technologies, content creation, sponsorship, esports, betting, and data. This includes having owners, investors and operators in Major League Baseball (MLB), National Basketball Association (NBA), ESPN and sports management.
Zak Brown, CEO McLaren Racing said: “This investment represents a key moment in the progress of McLaren Racing.
"MSP Sports Capital is first and foremost a sports investor. They know the market and their team has considerable experience and proven success in global sports properties. They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing.
“This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium.”
The transaction values McLaren Racing at £560 million, post-money.
McLaren, who have secured themselves as Britain's most successful Formula One team, have struggled as of late on the track but the latest investment into the Group is viewed as an opportunity for for future success.
“The partnership we are announcing today represents another important step in our proactive strategy to position McLaren Group for long-term success," started Paul Walsh, executive chairman of McLaren Group.
"Bringing partner capital and expertise into McLaren Racing will support the team’s return to the front of the grid and further strengthen our financial position.
“The fact that we have attracted a strategic investor of MSP Sports Capital’s calibre is testament to the unique history and exciting prospects of McLaren Racing. The business remains part of the McLaren Group and we look forward to working with MSP Sports Capital to deliver the next chapter of growth and success."
Author: Jake Wilkin