How McLaren F1’s new investors have already made an impact
The deal McLaren concluded with MSP Sports Capital last year which will help the cash-strapped Formula 1 team pay for much-needed infrastructure upgrades, also points toward the future for F1 itself, says GP Racing's Stuart Codling.
Shortly before tying up third place in the constructors' championship at last season's Abu Dhabi Grand Prix, McLaren announced the partial sale of McLaren Racing to a US-based investment consortium for £185million. Under the terms of the deal, which values the company at £560m, the consortium will take an initial stake of 15%, growing to 33% by the end of 2022.
MSP Sports Capital is the lead investor, along with The Najafi Companies and UBS O'Connor, a subsidiary of the Swiss bank which offers wealth management services, including hedge funds. There is some overlap between the investors - Jahm Najafi is a partner in MSP as well as being the founder and owner of his eponymous private equity company.
George Russell and Valtteri Bottas' collision at Imola on Sunday prompted fury in the Formula 1 paddock. But Russell's carefully-worded heartfelt statement later, acknowledging that his initial response was wrong, proved the right move
In Max Verstappen's Formula 1 career to date, he has been cast as the 'pretender', an acknowledged top-line performer without the car to regularly challenge Lewis Hamilton. But that no longer applies in 2021, and the start to the Emilia Romagna Grand Prix was the most telling signal yet of what we can expect from their duel this year
Daniel Ricciardo has found a new lease of life at McLaren – a move that’s been years in the making, as he explains to STUART CODLING…
Formula 1’s latest Imola adventure turned into an expensive trip for many teams due to several crashes throughout the weekend. While balancing the books is an added factor in 2021 with the cost cap, a few midfield teams have cashed in early on development investments.
Rain before the start of the Emilia Romagna Grand Prix promised to spice up the action, and the race certainly delivered on that. Max Verstappen got the best launch to win from Lewis Hamilton, but both got away with mistakes that could have had serious consequences
The first in a line of world beaters was designed in a back bedroom and then constructed in a shed. STUART CODLING recalls the Tyrrell 001
While Mercedes struck back against Red Bull by topping the times at Imola on Friday ahead of the Emilia Romagna Grand Prix, the overall picture remains incredibly close. Despite having a possible edge this weekend, the reigning Formula 1 world champion squad is not taking anything for granted...
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