McLaren, a name synonymous with British racing heritage in Formula 1, may soon find itself under complete Bahraini ownership. Rumors circulating this week suggest a significant shift in the ownership structure of the McLaren Group, the Woking-based company currently led by American Zak Brown.
Mumtalakat, the sovereign wealth fund of Bahrain, which already holds a majority stake in McLaren, is reportedly poised to take over full ownership. This development aligns with recent moves by Mumtalakat, fuelling beliefs among insiders that Bahrain will soon acquire all remaining shares from McLaren’s minority shareholders.
In a pivotal move, McLaren’s shareholders have ratified a comprehensive financial restructuring plan. “McLaren’s shareholders have unanimously approved a full recapitalisation of the Group,” Mumtalakat confirmed in a public statement. This recapitalisation is seen as a clear indicator of the impending total ownership by Bahrain.
The potential transition to complete Bahraini ownership marks a significant chapter in McLaren’s storied history, as the team, originally founded by New Zealander Bruce McLaren, has long been celebrated as the oldest active British squad in Formula 1.
The financial magnitude of this deal is underscored by Forbes’ 2023 estimation of McLaren’s Formula 1 team’s value at an impressive $2.2 billion.