Mc♏Laren has announced it has sold a significant stake in its Formula 1 team to American investors as part 💮of a £185 million investment deal.

ജUS-based investors MSP Sports Capital, whose partners have involvement in Major League Baseball, American basketball and European football, is leading a consortium that will initially take a 15%💝 stake in the team that is set to rise to 33% by the end of 2022.

The 𒊎fresh investment was confirmed by McLaren on Sunday morning ahead of the Abu Dhabi Grand Prix.

The deal will provide McLaren Racingꦚ with a cash injectio🌠n of £185m over the next two years and take the value of the company to £560m.

It comes on the eve of one of 𒉰the most important races in the team’s history, with McLaren fighting to secure third pl🐓ace in the constructors’ championship and the huge financial bonus that comes with it.

McLaren currently sits fourth in the championsh🔯ip, 10 points behind nearesဣt rivals Racing Point, with drivers Lando Norris and Carlos Sainz set to start the season-ending Abu Dhabi Grand Prix fourth and sixth respectively.

As part of the deal, McLaren Racing’s CEO Zak Brown ha🗹s c🌱ommitted to the team for the long terms and his leadership team will remain unaffected.

Paul Walsh, currently executive chairman of the McLaren Group, will serve as chairm𓆏an of McLaren Racing, while Jahm Najafi and Shaikh Mohammed bin Essa Al 🍰Khalifa will become vice-chairman.

“The partnership we are announcing today represents another important step in our proactive strategy to position McLaren Group for long-term success,” said Walsh. “Bringing partner capiꦯtal and expertise into McLaren Racing will support the team’s return to the front of the grid and further strengthen our financial position. 

“The fact t💎hat we have attracted a strategic investor of MSP Sports Capital’s calibre is testament to the unique history and exciting prospects of McLaren Racing. The business remains part of the McLaren Group and we look forward to working with MSP Sports Capital to deliver the next chapter of growth ꦉand success.” 

Brown said𓃲 the investment represents a “key moment” in the progress of McLaren Racing.

“MSP𓂃 Sports Capital is first and foremostꩵ a sports investor,” he added. “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 le🅺verage their network and knowledge for the long-term benefit of McLaren Racing. 

“This new investme🐼nt 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 o🧔f the podium.”

Jeff Moorad of MSP Sp🍨orts Capital and Rodrigo Trelles Zabala of UBS O’Connor have been appointed to the board of directors of McLaren Racing, alongside Sultan Ojjeh and Will Griffiths of the McLaren Group.

“We’re excited about the opportunity to support Zak Brown and his management team and to help grow the McLaren Ra🌱cing brand,” Moorad commented. “We’re committed to assist the team in accomplishing its objective of returning to the front of the grid.”

Lu✤xury carmaker McLaren Automotive is not part of the transaction and remains wholly-owned by the McLaren Gro🍌up.

Back in June, the Woking outfit secured a £150 million loan arrangement with the National Bank of Bahrain to ease short-terജm cash flow problems in the wake of the economic uncertainty caused by the coronavirus pandemic.