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McLaren Racing secures £185m investment from US sports group
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...
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