YAS ISLAND, Abu Dhabi – MSP Sports Capital has partnered with UBS O’Connor LLC and The Najafi Companies to acquire a stake in McLaren Racing.
MSP Sports Capital is a diversified sports investment group with strategic stakes in properties at the intersection of global media rights, distribution technologies, content creation, sponsorship, esports, betting and data.
MSP Sports Capital’s principals are experienced, well-known figures in the sports industry, as owners, investors and operators in Major League Baseball, National Basketball Ass’n), ESPN and sports management.
The transaction will see MSP Sports Capital acquire a significant minority shareholding in the team, with McLaren Group remaining the majority shareholder. MSP Sports Capital will invest a total of £185m into McLaren Racing, acquiring an initial 15 percent stake that will increase to a maximum of a 33 percent shareholding by the end of 2022.
The transaction values McLaren Racing at £560m, post-money.
McLaren Racing CEO Zak Brown has committed to McLaren Racing for the long term and his leadership team continues in place. Paul Walsh will sit as chairman of McLaren Racing, while Jahm Najafi and Shaikh Mohammed bin Essa Al Khalifa will become vice-chairmen.
As part of the transaction, Jeff Moorad of MSP Sports Capital and Rodrigo Trelles Zabala of UBS O’Connor have been appointed to the board of directors of McLaren Racing, alongside Sultan Ojjeh and Will Griffiths of McLaren Group. Moorad was previously involved in NASCAR as co-owner of the Hall of Fame Racing team.
“This investment represents a key moment in the progress of McLaren Racing,” said Brown.
“MSP Sports Capital is first and foremost a sports investor. They know the market and their team has considerable experience and proven success in global sports properties. They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing.
“This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula One and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium.”