Michael Latifi makes major McLaren Group investment
The McLaren Group has announced that Canadian Michael Latifi, father of Formula 2 racer Nicholas, has become the company's first new shareholder since the departure of Ron Dennis

An investment of over £200million will be made by British Virgin Island-based Nidala (BVI) Limited, which is controlled by Latifi, whose son is a Force India Formula 1 test driver as well as an F2 race-winner.
The only other shareholders in the McLaren Group, which encompasses the Automotive, Racing and Applied Technologies divisions, are Mansour Ojjeh and Mumtalakat, the Bahrain sovereign wealth fund.
Known as a Ferrari enthusiast, Latifi left his native Iran for Canada with his family as a teenager, and initially got a job in McDonalds. He studied a degree in electrical engineering, and subsequently earned an MBA.
He is the owner of Sofina Foods Inc, the third largest food company in Canada.
"I have been an admirer of the McLaren brand and its businesses for some time," said Latifi.
"McLaren is a unique organisation in automotive, racing and technology with exciting long-term growth prospects, which is why I have made this investment. I am proud to be part of McLaren and this incredible brand."
McLaren Group CEO Shaikh Mohammed bin Essa Al Khalifa added: "This injection of capital is a vote of confidence in our future strategy and the Group remains as focused as ever in positioning for growth.
"We are delighted Michael Latifi has joined the McLaren family."
A McLaren statement outlining the deal confirmed that the funds will arrive over the next year.
"A capital injection of £203.8m is being made by Nidala (BVI) Limited to purchase 888,135 ordinary shares in McLaren Group Limited," it read. "The proceeds for the new capital will be received over the coming year.
"This new capital, which is part of the Group's simplification over the last 12 months, will significantly strengthen the Group's balance sheet and underpins its ambitious growth plans laid out in its five-year business plan."
McLaren sources indicated that it would be wrong to infer that the deal is linked to Nicholas Latifi (pictured below), suggesting it is purely a commercial opportunity for his father.


Previous article
Behind the scenes of the F1 development race
Next article
Esteban Ocon's Mercedes F1 engines survives for Monaco Grand Prix

About this article
Series | Formula 1 |
Drivers | Nicholas Latifi |
Teams | McLaren |
Author | Adam Cooper |
Michael Latifi makes major McLaren Group investment
Trending
Albert Park Circuit Modifications Project
Mercedes-AMG F1 Team: Bahrain GP Race Debrief
The delay that quashed Aston Martin’s last F1 venture
Aston Martin’s only previous foray into Formula 1 in the late 1950s was a short-lived and unsuccessful affair. But it could have been so different, says NIGEL ROEBUCK
Verstappen exclusive: Why lack of car-racing titles won't hurt Red Bull's ace
Max Verstappen’s star quality in Formula 1 is clear. Now equipped with a Red Bull car that is, right now, the world title favourite and the experience to support his talent, could 2021 be the Dutchman’s year to topple the dominant force of Lewis Hamilton and Mercedes?
Are we at peak F1 right now?
For many, many years Formula 1 has strived to do and to be better on all fronts. With close competition, a growing fanbase, a stable political landscape and rules in place to encourage sustainability, 2021 is on course to provide an unexpected peak
How crucial marginal calls will decide the Red Bull vs Mercedes battle in F1 2021
The longer Red Bull can maintain a performance edge over Mercedes, the better the odds will be in the team’s favour against the defending world champions. But as the Bahrain Grand Prix showed, many more factors will be critical in the outcome of the 2021 Formula 1 World Championship
How Williams’ new structure adheres to a growing F1 trend
Williams held out against the tide for many years but, as MARK GALLAGHER explains, the age of the owner-manager is long gone
When a journeyman driver's F1 career lasted just 800m
Nikita Mazepin’s Formula 1 debut at the Bahrain Grand Prix lasted mere corners before he wiped himself out in a shunt, but his financial backing affords him a full season. Back in 1993 though, Marco Apicella was an F1 driver for just 800m before a first corner fracas ended his career. Here’s the story of his very short time at motorsport’s pinnacle
The nightmare timing that now hinders Mercedes
Mercedes and Lewis Hamilton took victory at the Bahrain Grand Prix despite, for a change, not having the quickest car. But any hopes of developing its W12 to surpass Red Bull's RB16B in terms of outright speed could not have come at a worse time.
How Raikkonen's rapid rise stalled his team-mate's F1 career climb
Kimi Raikkonen’s emergence as a Formula 1 star in his rookie campaign remains one of the legendary storylines from 2001, but his exploits had an unwanted impact on his Sauber team-mate’s own prospects. Twenty years on from his first F1 podium at the Brazilian GP, here’s how Nick Heidfeld’s career was chilled by the Iceman