'After Williams, now McLaren wants to sell a minority stake in shares'
F1 News
- GPblog.com
Williams might put the team up for sale, but the other British team McLaren isn't doing well either. We are now looking at whether a small part of the company can be sold.
Sky Sports announces on Wednesday that McLaren wants to sell a minority stake in order to survive the corona crisis. This is therefore not a complete takeover, but an investment in which the investor acquires a minority stake in the illustrious race stable that used to guarantee world titles.
McLaren on sale
According to the British medium, McLaren has not yet implemented this plan, but it is still in the concept phase. There was no response from the McLaren camp. Currently, the Bahraini organization Mumtalakat is the majority shareholder of McLaren, with 56 percent of the shares. The TAG Group follows with 14 percent and Nicholas Latifi is also reported to hold 10 percent.
From 2021, Formula 1 introduces a budget cap that McLaren was certainly a great advocate of. Like Williams, McLaren has been struggling with the finances for a long time because it hasn't been at the top for several years. A budget cap and new rules from 2022 onwards should ensure that McLaren can return to the top and the investor could be in the front row for a small price.