McLaren Racing lands significant investment from MSP Sports Capital

McLaren Racing investment MSP
Hamad I Mohammed/Getty Images
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McLaren Racing announced a significant minority investment from MSP Sports Capital on the same day they secured third-place in the Formula 1 constructors championship.

MSP Sports Capital is joined in the investment by their strategic partners UBS O’Connor LLC and The Najaffi Companies in a deal to acquire a 15 percent stake in McLaren initially with a plan to increase to a maximum of 33 percent by the end of 2022. With this investment, the valuation of the company is reported to be 560 million pounds post money, or about $747.7 million in US dollars.

The McLaren Group remains the majority stakeholder after the MSP Sports Capital group invests about $247 million.

“The partnership we are announcing today represents another important step in our proactive strategy to position McLaren Group for long-term success,” Paul Walsh, Executive Chairman, McLaren Group said in a press release. “Bringing partner capital and expertise into McLaren Racing will support the team’s return to the front of the grid and further strengthen our financial position.

“The fact that we have attracted a strategic investor of MSP Sports Capital’s caliber is testament to the unique history and exciting prospects of McLaren Racing. The business remains part of the McLaren Group and we look forward to working with MSP Sports Capital to deliver the next chapter of growth and success.”

McLaren CEO Zak Brown has committed to McLaren Racing for the long term with his leadership team remaining in place. Paul Walsh will sit as chairman of McLaren Racing, while Jahm Najafi and Shaikh Mohammed bin Essa Al Khalifa become vice-chairmen.

“This investment represents a key moment in the progress of McLaren Racing,” Brown said. “MSP Sports Capital is first and foremost a sports investor. They know the market and their team has considerable experience and proven success in global sports properties. They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing.

“This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium.”

As part of the transaction, Jeff Moorad of MSP Sports Capital and Rodrigo Trelles Zabala of UBS O’Connor are appointed to the board of directors of McLaren Racing, alongside Sultan Ojjeh and Will Griffiths of McLaren Group.

Moorad was previously one of the owners of Hall of Fame Racing, which fielded cars in the NASCAR Cup series from 2006 through 2009.

The news came before the start of the Abu Dhabi Grand Prix and spurred the McLaren drivers to top 10 finishes. Lando Norris finished fifth with Carlos Sainz in sixth, which was enough to place them third in the constructors championship by seven points over Racing Point. Mercedes and Red Bull finished first and second respectively.

Luxury supercar maker McLaren Automotive remains wholly-owned by the McLaren Group and is not part of this transaction.

Final 2023 Rolex 24 at Daytona results, points

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DAYTONA BEACH, Fla. — The 2023 Rolex 24 at Daytona overall results were all streaks: two consecutive victories in the endurance classic for Meyer Shank Racing and three in a row for Acura.

And Helio Castroneves became the second driver to win three consecutive Rolex 24s and the first to win in three straight years (Peter Gregg won in 1973, ’75 and ’76; the race wasn’t held in ’74 because of a global oil crisis).

Starting from the pole position, Tom Blomqvist took the checkered flag in the No. 60 ARX-06 that led a race-high 365 of 783 laps with co-drivers Castroneves, Simon Pagenaud and Colin Braun.

RESULTS: Click here for the finishing order in the 61st Rolex 24 at Daytona l By class

POINTS: Standings after Rolex 24 at Daytona l Michelin Endurance Cup standings l Daytona endurance points

Meyer Shank Racing now has two Rolex 24 victories and the 2022 championship since entering the premier prototype category of the IMSA WeatherTech SportsCar Championship in 2021.

“I think what’s so special about this team is we are a small team compared to some of our opponents, but the atmosphere, the way we work, enables people to get the best out of themselves, and I think that’s why we’re such high achievers,” Blomqvist said. “I think there’s no egos. It’s a very open book, and that just enables each and every one of us to reach our potential. I think that’s why we’ve achieved so much success in really a short time at this level of competition.”

It’s the 16th IMSA victory for MSR.

The 61st running of the Rolex 24 at Daytona marked the debut of the Grand Touring Prototype category that brought hybrid engine technology to IMSA’s top level.

In other categories:

LMP2: James Allen passed Ben Hanley on the final lap and delivered a victory in the No. 55 ORECA by 0.016 seconds. It’s the second IMSA victory for Proton Competition, which last won at Sebring in 2012. It was the first Rolex 24 victory for Allen and co-drivers Gianmaria Bruni, Fred Poordad and Francesco Pizzi.

GTD Pro: Cooper MacNeil won in the last start of his IMSA career as the No. 79 Mercedes-AMG GT3 scored the first Rolex 24 at Daytona for WeatherTech Racing and the team’s fourth career victory.

MacNeil, who co-drove with Maro Engel, Jules Gounon and Daniel Juncadella, earned his 12th career victory and first at the Rolex 24.

“Winning by last IMSA race is tremendous,” MacNeil said.

GTD: The No. 27 Heart of Racing Team delivered the first Rolex 24 at Daytona for Aston Martin, which has been competing in endurance races at Daytona International Speedway since 1964. Drivers Marco Sorensen, Roman De Angelis, Darren Turner and Ian James (also the team principal) earned the victory in the English brand’s 13th attempt.

It’s also the first Rolex 24 at Daytona win for Heart of Racing, which has seven IMSA wins.

LMP3: Anthony Mantella, Wayne Boyd, Nico Varrone and Thomas Merrill drove the No. 17 AWA Duqueine D08 to victory by 12 laps for the team’s first class win in IMSA.


STATS PACKAGE FOR ROLEX 24 HOURS OF DAYTONA:

Fastest laps by driver

Fastest laps by driver after race (over the weekend)

Fastest laps by driver and class after race

Fastest lap sequence

Lap chart

Leader sequence

Race analysis by lap

Stint analysis

Time cards

Pit stop time cards

Best sector times

Race distance and speed average

Flag analysis

Weather report

NEXT: The 2023 IMSA WeatherTech SportsCar Championship season will resume with the Mobil 1 Twelve Hours of Sebring March 18 with coverage across NBC, USA and Peacock.