McLaren said in a statement on Sunday that US investment group MSP Sports Capital will acquire a minority stake in McLaren Formula 1 F1, and the deal provides for a 15% acquisition of the company, which could reach a maximum of 33% by 2022.
The deal values British racing company McLaren at 560 million pounds ($740.49 million), and according to the agreement, MSP will invest 185 million pounds in the company over the next two years.
The deal includes several companies, including Najafi companies, which are private investment firms, as well as UBS O’Connor, which is affiliated with the funds of the Swiss investment banking company UBS.
Jaheim Nagavi will become McLaren Racing Vice President, while Jeff Morad of MSP and Rodrigo Trelles Zabala of UBS O’Connor will join the McLaren Racing Board of Directors, Bahrain Mumtalakat Holdings is the majority shareholder. In the McLaren Group, which has racked up eight F1 Founders’ Championship victories.