McLaren Racing has agreed to sell a third of the company to a group of United States-based investors. MSP Sports Capital will inject £185m into McLaren by the end of 2022 in a deal valuing the company at £550m. “This investment bolsters our plan to return to contention for wins and championships in F1 and IndyCar,” said McLaren Racing chief Zak Brown. As part of the deal, Jahm Najafi, chairman and chief executive of The Najafi Companies, will become a vice-chairman of McLaren Racing. Jeff Moorad, principal of MSP, and Rodrigo Trelles Zabala of UBS O’Connor will join the McLaren Racing board as non-executive directors.

Source: The Star December 13, 2020 21:00 UTC