News Details
In The Pitlane: Show me the money!
McLaren Racing announced at last weekend’s Abu Dhabi race that they had agreed to sell a third of the company to a group of United States-based investors. MSP Sports Capital will inject £185-million {$246-million) by the end of 2022 giving them a 15% stake rising to 33%. McLaren were delighted with the news with McLaren Racing chief Zak Brown stating,
'This investment bolsters our plan to return to contention for wins and championships in F1 and IndyCar.” McLaren has taken a long-term strategic decision to separate the funding for the race team from the automotive and engineering divisions effectively ring-fencing the F1 team. McLaren Group executive chairman Paul Walsh hit the nail...
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