McLaren Sells Stake In F1 And Indy Racing Teams To Investment Group

McLaren Group said Sunday it has sold a stake in McLaren Racing, its division responsible for the McLaren Formula One team and recent IndyCar efforts.

The company reached a deal with a consortium of investors led by United States-based sports investment company MSP Sports Capital. Under the deal, MSP and its partners will invest a total of 185 million British pounds (approximately $247.8 million) into McLaren Racing, acquiring an initial 15% stake that will increase to a maximum 33% stake by the end of 2022.

The deal values McLaren Racing at approximately 560 million British pounds. It also sees Jahm Najafi, a partner of MSP, become vice chairman of McLaren Racing together with current vice chairman Shaikh Mohammed bin Essa Al Khalifa.