The sovereign wealth fund of Bahrain is set to take full control of the McLaren group after agreeing a deal with its minority shareholders.
It has been reported by Sky Sports News that Mumtalakat, the Gulf state’s investment fund, is on the brink of a deal with McLaren which would see roughly 20 percent of its equity being converted into warrant-like instruments.
This would mean that the new contracts would have the economic rights to benefit from a future ‘liquidity event’, but would not be classed as shares.
It would also see the state of Bahrain become the F1 team-owning group’s sole shareholder, with the deal expected to be announced this week.
Most recently, it was reported that they had injected another £80 million into the company, which built the Artura supercar after it had suffered delays.
McLaren have witnessed a resurgence under the guidance of Zak Brown in F1, as evidenced by their upturn in form in the second half of 2023 to see them finish fourth in the constructors' championship with drivers Lando Norris and Oscar Piastri.
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