GLP advises McLaren Group on new investment in McLaren Racing from strategic sports investor, MSP Sports Capital
McLaren Group announced today that it has signed a deal to attract significant new long-term investment into McLaren Racing led by MSP Sports Capital, the US-based sports investment group, to help drive its plan to return to the top in Formula 1 and continue its growth as a global sports franchise. MSP is co-investing with its strategic partners UBS O’Connor, LLC. and The Najafi Companies.
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 (MLB), National Basketball Association (NBA), 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% stake that will increase to a maximum of a 33% shareholding by the end of 2022. The transaction values McLaren Racing at £560m, post-money.
McLaren Group was supported by Global Leisure Partners as its exclusive financial advisor in this transaction.
About McLaren Group
The McLaren Group is a British-based, globally-renowned luxury automotive, motorsport and technology company which turned over £1.48 billion in 2019.
Founded in 1963 by racer, engineer and entrepreneur Bruce McLaren, the group is formed of three companies; McLaren Applied, which works at the intersection of technology and data to deliver quantifiable performance advantage to organisations; McLaren Automotive, which hand-builds lightweight supercars; and a majority stake in McLaren Racing which competes in the Formula 1 World Championship and INDYCAR in the US. In December 2020, McLaren Group announced new investment in McLaren Racing from strategic sports investor, MSP Sports Capital.
The group has more than 3,000 employees and is globally headquartered at the iconic McLaren Technology Centre in Woking, Surrey, England.
With a reputation for innovation and technological excellence, McLaren is one of the UK’s largest independent companies.
About McLaren Racing
McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966, since when McLaren has won 20 Formula 1 world championships, more than 180 Formula 1 grands prix, the Le Mans 24 Hours at its first attempt and the Indianapolis 500 three times.
McLaren Racing currently competes in Formula 1 globally and INDYCAR in the US. The team will contest the 2021 FIA Formula 1 World Championship with Lando Norris and Daniel Ricciardo, and the INDYCAR Series with drivers Pato O’Ward and Felix Rosenqvist, who will both be joined by Juan Pablo Montoya for the 2021 Indianapolis 500.
Chairman & Chief Executive Officer
Global Leisure Partners LLP
Tel: +44 (0) 20 7016 8065
Global Leisure Partners LLP ("GLP") is authorised and regulated in the UK by the Financial Conduct Authority. Global Leisure Partners LLC, a subsidiary of GLP, is a broker-dealer registered in the US with the Securities and Exchange Commission and is a FINRA member firm. Global Leisure Capital Partners LLC ("GLCP"), a wholly-owned subsidiary of GLP, is the principal investment arm of GLP and registered with the SEC as an Investment Adviser. All rights reserved. GLP specifically prohibits the redistribution of this material and accepts no liability whatsoever for the actions of third parties in this respect.