McLaren F1 team's valuation skyrockets to over PS3 billion
McLaren Racing, the iconic British Formula 1 team, just got a massive valuation boost—now worth over £3 billion.
Gulf investors Mumtalakat and CYVN Holdings are set to take full control by buying out the last 30% stake from other shareholders.
The deal could be announced as soon as Tuesday.
McLaren's history and recent success
McLaren has been racing since 1963 and has racked up more than 200 Grand Prix wins with legends like Lewis Hamilton.
Lately, under CEO Zak Brown, they've stepped up their game—Oscar Piastri recently won the Dutch Grand Prix and the team's leading the constructors' standings.
From PS560 million to PS3 billion in 5 years
Back in 2020, McLaren was valued at just £560 million when MSP Sports Capital invested to help them through pandemic struggles.
Fast forward to now: stronger results on track and off have sent their value soaring.
After this deal wraps up, Mumtalakat will remain in charge of the team.