McLaren Racing chief Zak Brown has confirmed that its principal shareholders now own 100% of the Woking-based outfit, reportedly valuing the company at a staggering $4.1 billion.
“It’s all done,” Brown told Bloomberg, confirming that the Bahraini sovereign wealth fund Mumtalakat and automotive investment group CYVN Holdings, which already hold stakes in McLaren Group, have snapped up the remaining 30% in McLaren Racing to claim full control.
The deal covers not just McLaren’s Formula 1 operations but also the company’s Arrows McLaren IndyCar outfit and its upcoming WEC Hypercar endeavor, giving the shareholders full control of the manufacturer’s entire motorsport portfolio.
Formula 1’s Rising Tide
The shareholder move isn’t just a financial flex – it’s a bold statement about Formula 1’s meteoric rise and McLaren’s unshakable place at its pinnacle.
Brown was unsurprisingly effusive about the sport’s booming health, a trend that start with Liberty Media acquisition of the sport in 2017.
“The sport is on fire, you know, every metric, demand for teams,” the McLaren CEO told Bloomberg.
“It wasn’t long ago that Liberty [Media] acquired the sport and put a cost cap in place, which kind of ensured everyone’s financial stability and on-track stability and competitiveness.
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“So it’s been a wonderful thing. The fans are coming out in the tens and hundreds of millions, sponsors, partners in the sport, unlike we’ve ever seen before, so the sport is on fire, and long may it continue.”
Brown also dismissed talk of F1 valuations hitting their peak, emphasizing the growth potential.
“I don’t think so. I think if you look at sports in general, and I wouldn’t say I’m an expert at all sports by any means, but they’ve only been going north forever,” he said.
“Every time there’s a record deal and whatever sport it is, everyone goes, ‘Oh, that was crazy’. And then you look back and in five years, they’ve still gone up.
“So I think our sport in particular has a lot of room for growth. We have 24 races, we have demand for probably 30 grands prix, so the demand is strong.”
Attracting the Best Brands in the World
The sport’s commercial allure is undeniable, with blue-chip brands and multi-)national companies fighting for exposure and partnerships with Formula 1’s field of teams, while on the track, the competition is fiercer than ever.
“Our car has the best brands in the world, the Mastercards, the Googles, etc. The competition is amazing. Last year, four teams won, seven different drivers won multiple races,” Brown emphasized.
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“It’s the first time I’ve seen that in my 30 years of following the sport, so the on-track competition is great. The off-track drama, as captured by Netflix, is fantastic. The demand for Grands Prix has never been stronger, so I think the sport, in many ways, is just getting going.”
With full ownership secured by its two prominent shareholders, McLaren is poised to accelerate its ambitions both on and off the track, benefiting from a Formula 1 landscape that Brown insists has never been more vibrant – or more valuable.
Read also: Aston Martin cashes out of F1 stake at whopping valuation!
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