In December, McLaren shareholders unanimously approved a full recapitalisation of the business ostensibly to allow for a “simplified” and “streamlined” governance process. However, the finances of the supercar maker have long been under scrutiny. During the COVID-19 pandemic, it took out a £150million loan with the National Bank of Bahrain, sold a stake in its F1 team, arranged a leaseback deal for its renowned Technology Centre factory in Woking and cut 1000 jobs.
” Lando Norris, McLaren MCL38 Photo by: Zak Mauger / Motorsport Images Mumtalakat has been partnered with McLaren since a 2007 purchase of a 30% stake from former chairman Ron Dennis and the late Mansour Ojjeh. Following the initial sale of £185m in shares in the F1 team to American investment firm MSP Sports Capital, the McLaren Group retains a 67% stake in McLaren Racing - which also competes in IndyCar, Formula E and Extreme E.
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