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McLaren set to sell big stake in F1 team to US investors
McLaren are set to sell a big stake in their Formula 1 team to a US-based consortium which will see £185m put into McLaren Racing over two-years.
Sky Sports reported the news on Saturday evening that MSP Sports Capital are set to secure a deal with McLaren which could be worth up to £560 million. Sky also reported that the deal could be announced on Sunday, despite the season-ending Abu Dhabi Grand Prix being staged on the same day.
According to the report on the Sky Sports website, the consortium will initially get a 15% stake, rising to 33% over the next two years. Jahm Najafi, a member of the consortium will become a vice-chairman of McLaren Racing. Jeff Moorad of MSP and Rodrigo Trelles Zabala of UBS O'Connor will become non-executive directors.
The team still have plenty to race for on Sunday in Abu Dhabi. It will be Carlos Sainz's final race for the team before he heads to Ferrari, whilst Lando Norris starts in fourth after an impressive qualifying. It is an important race with the battle for best of the rest in the Constructors' Championship still up for grabs. Racing Point lead the way but McLaren are still in with a shout.