McLaren has announced it has sold a🍨 significant stake 🔥in its Formula 1 team to American investors as part of a £185 million investment deal.

US-based i🌃nvestors MSP Sports Capital, whose p𝓡artners have involvement in Major League Baseball, American basketball and European football, is leading a consortium that will initially take a 15% stake in the team that is set to rise to 33% by the end of 2022.

The fresh investment was c𒁏onfirmed by McLaren on Sunday morning ahead of the Abu Dhabi Grand Prix.

The deal will provide 🧔🅘McLaren Racing with a cash injection of £185m over the next two years and take the value of the company to £560m.

It comes on the eve of one of the most important races in the team’s his🔯tory, with McLaren fighting to secure third place in the constructors’ championship and the huge financial bonus that comes with it.

McLaren currently sits fourth in the championship, 10 points behind nearest rivals Racing Point, with drivers Lando Norris and Carlos Sainz set to start the season-ending Abu Dhabi Grand Prix fourth and s♚ixth respectively.

As part of the deal, McLaren Racing’s CEO Zak Brown has committed to the team for the long terms and his le𝓀adership team ♌will remain unaffected.

Paul Walsh, currently executive chairmaꩲn of the McLaren Group, will serve as chairman of McLaren Racing, while Jahm Najafi and S💫haikh Mohammed bin Essa Al Khalifa will become vice-chairman.

“The partnership we are announcing today represents anoth🍒er important step in our proactive strategy to position McLaren Group for long-term s❀uccess,” said Walsh. “Bringing partner capital and expertise into McLaren Racing will support the team’s return to the front of the grid and further strengthen our financial position. 

“The fact that we have attracted a strategic investor of MSP Sports Capital’s calibre is testament to the unique history and exciting prospects of McLaren Rac💝ing. The ⛦business remains part of the McLaren Group and we look forward to working with MSP Sports Capital to deliver the next chapter of growth and success.” 

Brown said the investment ܫrepresents a “key moment” in the progress of McLaren Racing.

“MSP Sports Capital is first and foremost a sports investor,” he added. “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-te𒐪rm benefit of McLaren Racing. 

“This new in♑vestment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentu🙈m as we continue to focus relentlessly on our mission to return to the top of the podium.”

Jeff Moorad of MSP Sports Capital and Rodrigo Trelles Zℱabala of UBS O’Connor have been appointed to the board of directors of McLaren Racing, alongside Sultan Ojjeh and Will Griffiths of the McLaren Group.

💝“We’re excited about the o♔pportunity to support Zak Brown and his management team and to help grow the McLaren Racing brand,” Moorad commented. “We’re committed to assist the team in accomplishing its objective of returning to the front of the grid.”

Luxury carmaker McLaren Automotive is not part of the transaction and remains wholly-owned by the McLaren Group𝓀.

Back in June, the Woking outfiﷺt secured a £150 million loan arrangement with the National Bank of Bahrain to ease short-term cash flow problems in the wake of the economic uncertainty caused by the coronavirus pandemic.