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McLaren won the constructors’ championship last year for the first time since 1998 and this year are well on course for a drivers’ and constructors’ title double.<\/p>\n
Oscar Piastri and Lando Norris are first and second in the drivers’ championship having won 12 of the 15 races so far this season.<\/p>\n
McLaren have more than double the points of their closest pursuers Ferrari in the constructors’ title chase.<\/p>\n
A statement from McLaren said: “The simplified ownership structure and strengthened capital base resulting from the transaction will position McLaren Racing for continued success both on and off the track.<\/p>\n
“The board and executive management team remain committed to delivering on the vision to be the most pioneering and exhilarating racing team in the world.”<\/p>\n
McLaren Racing is owned by the McLaren Group, and is a separate business from McLaren Automotive, which was bought by CYVN Holdings earlier this year.<\/p>\n
The transaction announced on Tuesday sees Mumtalakat and CYVN buy all the shares of McLaren’s minority shareholders, of which MSP had the largest stake.<\/p>\n
Paul Walsh, the executive chairman of the McLaren Group said: “Our suite of minority investors came on board in 2020 and we thank them for their tremendous support over the past few years as we set McLaren Racing on a path to commercial growth and financial stability.<\/p>\n
“We now have two fantastic shareholders in Mumtalakat, a long-standing and deeply valued partner, and CYVN, whose additional investment in Automotive and McLaren Racing, together with their strategic focus on advanced mobility, strengthens our ability to future-proof the business and capture new growth opportunities.”<\/p>\n<\/div>\n
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