McLaren CEO Zak Brown confirmed the sale of the automaker’s sports arm, which is up to F1. Bahrain Mumtalakat, Bahrain’s sovereign background, and Cyvn Holdings, a company linked to the government of Abu Dhabi, in the United Arab Emirates, who already had 70% of McLaren Racing shares, finished the purchase and had 100%.
According to Bloomberg, a financial market news agency, the remaining 30% negotiation was based on a US $ 4.1 billion (R $ 21.81 billion) assessment. This percentage was from MSP Sports Capital and other majority shareholders, who had acquired their part in 2000.
At the time, the team came from bad seasons and was valued at £ 560 million (just over $ 4 billion in the current price). Since then, under Brown’s command, he had a great growth and has taken the world title of 2024 builders. This year he is very close to repeating the feat and must also have the world champion of pilots: Australian Oscar Piostri and the British Lando Norris are right ahead of other corridors.
“It’s done. The transaction is complete,” the executive told Bloomberg. Thus, Bahrain Mumtalakat and Cyvn Holdings, which had already bought McLaren Group, also had full control over McLaren Racing.
“The sport is on fire in all metrics. It’s been wonderful. Dozens or hundreds of millions of fans are coming. There are sponsors, partners, as we have never seen before. So there is still a long way to go,” said Brown.
The businessman said he did not believe that the evaluation of F1 teams has reached their peak.
“I don’t think so. If you look at the aspects of the sport, you’re going up. Every time we have a record business, then they say, ‘Wow, what a madness.” But you look again and keep growing. So, I think our sport has plenty of space for growth. “
