MSP SPORTS CAPITAL EXITS MCLAREN RACING AFTER PIVOTAL ROLE IN F1 TEAM'S REVIVAL

KUALA LUMPUR, Sept 3 (Bernama) -- MSP Sports Capital, a New York-based private investment firm, has confirmed the sale of its equity interest in McLaren Racing, including its Formula 1 (F1) Team, to McLaren Group Limited.

The transaction will enable Bahrain Mumtalakat Holding Company and CYVN Holding, an advanced mobility operator and investment vehicle based in Abu Dhabi, to increase their share and assume full ownership of the iconic British motor racing business.

According to a statement, Mumtalakat will continue as the majority shareholder, with CYVN Holdings owning a non-controlling stake.

“With ownership now consolidated in Bahrain and Abu Dhabi, McLaren is poised for an even brighter future,” said MSP Sports Capital Partner and Chief Executive Officer, Jeff Moorad.

Meanwhile, its Partner and Chairman, Jahm Najafi highlighted Formula 1’s evolution into a “global media and entertainment platform”, praising McLaren’s leadership for driving innovation and maintaining competitive relevance.

With this transaction, MSP Sports Capital will no longer hold an equity interest in McLaren Racing. Moorad, along with partner Najafi, currently Vice Chairman of the McLaren Racing board of directors, will step down from the McLaren Racing board.

MSP’s investment came at a pivotal moment in the business, providing vital capital that contributed to the company’s efforts in stabilising business operations during the COVID-19 pandemic, funding infrastructure upgrades, and retaining and recruiting world-class talent.

Over the last five years, with the support received from its shareholders, McLaren has returned to the front of the Formula 1 grid, rebuilt its competitiveness across multiple racing series, and enhanced its long-term commercial strength.

-- BERNAMA