Billion-Dollar Racing: Mumtalakat and CYVN Rev Up McLaren
Mumtalakat and CYVN Holdings fully acquired McLaren Racing, valuing the team at an estimated $5 billion. Mumtalakat maintains a majority, while CYVN holds a non-controlling stake. The sale involved shares from MSP Sports Capital and other investors who helped stabilize McLaren post-pandemic. McLaren looks towards future growth.
Bahrain's Mumtalakat and Abu Dhabi's CYVN Holdings have fully acquired McLaren Racing in a high-stakes deal, placing the Formula One champions at a formidable $5 billion valuation, according to a source. This transaction sees all shares owned by MSP Sports Capital and various funds transferred to the Middle Eastern investors.
The details of the sale, which reportedly values the team at over £3 billion ($4.05 billion), remain tightly under wraps, while one insider cited a total of $5 billion. Mumtalakat remains McLaren's majority shareholder with CYVN, an Abu Dhabi government-linked entity, holding a significant non-controlling stake.
The acquisition follows CYVN's formation of McLaren Group Holdings and signals a new era for McLaren Racing amidst increasing global interest in Formula One, partly fueled by Netflix's 'Drive to Survive'. With streamlined ownership, McLaren aims to secure commercial growth, as their racing teams continue to make strides in Formula One and beyond.
(With inputs from agencies.)
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