DUBAI: Bahrain’s Mumtalakat and Abu Dhabi’s CYVN Holdings took full ownership of McLaren Racing on Tuesday in a deal that reportedly valued the reigning F1 champions at more than $4 billion.
No financial details were given in a McLaren Group statement confirming the purchase of all shares held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds and Caspian Funds.
Sky News earlier reported the sale of the 30 percent stake would value the team at more than three billion pounds ($4.05 billion).
Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN, majority-owned by the government of Abu Dhabi, having a non-controlling stake.
CYVN created McLaren Group Holdings last April after completing its acquisition of sportscar maker McLaren Automotive.
McLaren Racing runs teams in Formula One, US-based IndyCars and will enter the World Endurance Championship from 2027.
US-based investment group MSP and others took a significant minority stake in 2020, when McLaren were in need of funds during the COVID-19 pandemic.
The deal, for a maximum 33 percent stake by 2022, valued the British racing outfit at 560 million pounds at the time.
Since then, McLaren have emerged as a dominant force in the sport, winning the constructors’ title last year for the first time since 1998 and on course to win both titles this season.
“Our suite of minority investors came on board in 2020, and we thank them for their tremendous support over the past few years as we set McLaren Racing on a path to commercial growth and financial stability,” said McLaren Group Executive Chairman Paul Walsh.
He said the simplified ownership structure “strengthens our ability to future-proof the business and capture new growth opportunities.”
MSP Sports Capital CEO Jeff Moorad and chairman Jahm Najafi will vacate their seats on the McLaren Racing board.
Ares Management said in a statement the proceeds from the transaction “will be used to return capital to investors and further strengthen its position as an experienced investor across the sports ecosystem.”
Bahrain, Abu Dhabi funds take full ownership of McLaren
https://arab.news/6bkue
Bahrain, Abu Dhabi funds take full ownership of McLaren
- No financial details were given in a McLaren Group statement confirming the purchase
- MSP Sports Capital CEO Jeff Moorad and chairman Jahm Najafi will vacate their seats on the McLaren Racing board
Saudi rising star Malik Basahel targets statement win at PFL MENA Finals
AL-KHOBAR: Saudi flyweight prospect Malik Basahel faces a pivotal test in his young professional career when he takes on Egypt’s Mahmoud Atef at the PFL MENA Finals: All or Nothing later on Friday at the Dhahran Expo in Al-Khobar.
Building on strong performances across the PFL and IMMAF circuits, Basahel sees the bout as a natural next step in a progression he has been planning for years. Confident but composed, he views the contest as another opportunity to underline what his record already suggests.
“I feel good. Obviously, it’s my sixth time fighting for the PFL. It’s my third pro fight this year,” Basahel said.
“For me, it’s just another fight, another opportunity to showcase what I’ve learned in the gym, to show my skills, and to get that win. I’m just focused on my next fight. I’ve got a good feeling about it.”
That calm approach is rooted in experience. From a decorated amateur career to an unbeaten start as a professional, Basahel has shown an ability to perform under pressure, with each outing reflecting steady development.
His run in the PFL has already exposed him to a variety of opponents and styles, providing valuable cage time.
Standing opposite him, Atef brings a 5-3 record and a reputation for pushing the pace. Basahel is ready for the challenge.
“He brings the fight, so I can bring the fight as well,” Basahel said. “I’m locked in on this one, and whatever happens after, happens.”
While acknowledging the higher stakes that come with competing on the PFL platform, the Saudi is clear about what keeps him grounded.
“The level of competition is higher than the regional shows, and obviously the media and everything around it plays a part,” he said. “But at the end of the day, it’s only a cage, the same rules, the same fight. I just try to put the work in, show what I can do, and have some fun with it. I always try to learn, always try to improve. I just know I’m going to get this win.”
For Basahel, the matchup with Atef represents a chance to reinforce his status as one of the region’s most promising flyweights and to deliver the statement performance he believes will carry him toward the upper tiers of the sport.
