MCLAREN RACING SECURES ITS FUTURE WITH NEW INVESTMENT
McLaren Racing has announced it has sold a "significant minority" stake in the group to a New York-based privately held investment advisory firm MSP Sports Capital ("MSP") ..
MSP Sports Capital and its limited partners were joined by The Najafi Companies and UBS O'Connor, providing investing of £185m into the group for an initial 15% stake which is set to increase to 33% by 2022 valuing McLaren Racing at £560m.
Recent MSP investments include stakes in Agrupación Deportiva Alcorcon S.A.D., Waasland Beveren, which plays in the Belgian Jupiter League, a Spanish football team based in Madrid, and Estoril Praia Futebol SAD, a Portuguese sports club based in Lisbon which is currently in first place in the LigaPro. MSP's McLaren Racing investment builds on a portfolio of high performing sports properties.
Steven Wasserman, Principal at MSP, commented: "We are delighted to invest in McLaren Racing and are excited by the prospects for the business. It is an honor to be a part of this storied franchise. We see significant growth potential in all of our investments and believe that McLaren's history, management and cutting-edge technology capability make it an ideal partnership for our organization." This investment continues and furthers our mission to source and develop compelling opportunities on behalf of our fund investors.
"This investment represents a key moment in the progress of McLaren Racing. MSP is first and foremost a sports investor," said Zak Brown, CEO of McLaren Racing. "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."
"We're excited about the opportunity to support Zak Brown and his management team and to help grow the McLaren Racing brand," said Jeff Moorad, Principal at MSP. "We're committed to assist the team in accomplishing its objective of returning to the front of the grid."
Jahm Najafi, Principal at MSP said, "As a Principal at MSP, I am delighted that we have been able to execute on such an exciting transaction and feel privileged to help steward and support such an enduring and admired company. We feel strongly in both the asset quality and our execution capabilities, such that my firm, The Najafi Companies, has decided to come in as a co-investor."
The investments brings an end to what looks like a return to power for Mclaren with the team rounding up the year in a respectable third place behind Red Bull Racing and ahead of Racing Point BWT Mercedes.