How McLaren’s new investors have already made an impact
OPINION: The deal McLaren concluded with MSP Sports Capital last year which will help the cash-strapped Formula 1 team pay for much-needed infrastructure upgrades, also points toward the future for F1 itself, says STUART CODLING
Shortly before tying up third place in the constructors' championship at last season's Abu Dhabi Grand Prix, McLaren announced the partial sale of McLaren Racing to a US-based investment consortium for £185million. Under the terms of the deal, which values the company at £560m, the consortium will take an initial stake of 15%, growing to 33% by the end of 2022.
MSP Sports Capital is the lead investor, along with The Najafi Companies and UBS O'Connor, a subsidiary of the Swiss bank which offers wealth management services, including hedge funds. There is some overlap between the investors - Jahm Najafi is a partner in MSP as well as being the founder and owner of his eponymous private equity company.
Daniel Ricciardo has found a new lease of life at McLaren – a move that’s been years in the making, as he explains to STUART CODLING…
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