London: McLaren are selling a minority stake in their Formula One team to a consortium of US-based investors in a deal that will value the British racing outfit at £560 million ($740.49m), Sky News reported yesterday.
The MSP Sports Capital-led consortium would put £185m into McLaren Racing over a two-year period, Sky News reported, adding that the deal could be announced as early as today.
The consortium members included The Najafi Companies, a private investment firm, and UBS O’Connor, a hedge fund subsidiary of Swiss investment banking firm UBS, the report added.
Sky News said that the consortium would initially acquire a 15 per cent stake in McLaren Racing, rising to 33pc by the end of 2022.
Bahrain’s Mumtalakat holding company is the majority shareholder in McLaren Group. The Woking-based outfit have won the F1 constructors’ championship eight times.