Bloomberg: McLaren Formula 1 team to be valued at $4.1 billion in stake sale
Photo: EPA / SEM VAN DER WAL

Formula 1 team McLaren Racing, which currently leads the championship, will be valued at more than £3 billion ($4.1 billion) as part of a stake sale. About writes Bloomberg, citing informed sources.

According to the agency's sources, the current owners of the McLaren Group – Bahrain's sovereign wealth fund Mumtalakat and Abu Dhabi investment company CYVN Holdings – will gain full control of the racing team.

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They will buy back the 30% stake held by MSP Sports Capital and other minority shareholders who invested in McLaren in 2020 for an estimated £560 million.

This is yet another example of the high valuations of Formula 1 teams amid growing interest from investors and fans.

Formula 1 has grown in popularity after the release of the Netflix series Formula 1: Race to the Bottom" and the movie "F1: The Movie" with Brad Pitt, which attracted new fans, particularly in the United States.

McLaren, led by CEO Zak Brown, won the team championship last year for the first time in 26 years.

The team's drivers Oscar Piastri and Lando Norris are now the main contenders for the Drivers' Championship for the first time since 2008.