McLaren Racing secures £185m investment from US sports group

©McLaren

The McLaren Group announced on Sunday that US sports group MSP Sports Capital has acquired a significant minority stake in McLaren Racing.

MSP Sports Capital will invest a total of £185m into McLaren's racing entity, acquiring an initial 15% stake that will increase to a maximum of a 33% shareholding by the end of 2022.

The transaction - destined to strengthen the Woking-based outfit's long-term plan for regular Formula 1 championship contention - values McLaren Racing at £560m, post-money.

"This investment represents a key moment in the progress of McLaren Racing," commented McLaren Racing boss Zak Brown.

"MSP Sports Capital is first and foremost a sports investor. They know the market and their team has considerable experience and proven success in global sports properties.

"They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing.

"This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium."

Read also: McLaren considering entry into Formula E in 2023!

MSP Sports Capital's principal Jahm Najafi - who is also a partial owner of the Phoenix Suns NBA team - has been appointed vice-chairman of McLaren Racing alongside Shaikh Mohammed bin Essa Al Khalifa.

"As a partner in MSP, I am delighted that The Najafi Companies has significantly increased our support of MSP and its investment in McLaren," said Najafi.

"This investment reflects the strength of our relationship, as well as the confidence we have in the McLaren Racing team platform. I am delighted to accept the role of vice-chairman and look forward to contributing to the growth and success of McLaren Racing."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.