The Bahrain state investment fund Mumtalakat has expanded its majority stake in McLaren, after buying shares worth £400 million. Mumtalakat announced that it had bought senior preference shareholder stakes in McLaren Group which includes the supercar arm and McLaren Racing, as part of a restructure to achieve their long-term objectives. While no new money will be injected into the company, the Bahrain state has reportedly bought the shares from the Saudi Arabia Public Investment Fund and global investment firm Ares Management, according to Sky News. Both Ares Management and Saudi Arabia's PIF provided £550 million equity investment in McLaren in July 2021. The potential move from the Saudi Arabia PIF comes not long after the Saudi-backed LIV Golf and the PGA and DP World Tour merger, along with heavy investment into the Saudi Pro League which has attracted a lot of international football stars including Cristiano Ronaldo. Saudi Arabia is also rumoured to be a main backer of the 'Formula Equal' 2026 F1 team entry. However, when approached by RacingNews365.com , President of the Saudi Arabia Motorsport Federation Prince Khalid stopped short of confirming their involvement . Project lead Craig Pollock later confirmed that it was in discussions with a "Gulf area region" to CNN .
Most read
