• Wed. Oct 16th, 2024

With immediate effect the McLaren Owners Technical has ends the contract of a top driver due to….

The McLaren – Mumtalakat Holding Company’s Owners Are Who? All the Information You Require to Understand the Bahrain Sovereign FundMcLaren boss tells team IndyCar championship leader Alex Palou has reneged on 2024 contract | The Hill

Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, was established by Royal Decree in 2006 and is fully owned by the government. As of October 2023, the fund manages assets totaling $18.3 billion, according to the Sovereign Wealth Fund Institute.

In 2007, Mumtalakat first became involved with the McLaren F1 team by acquiring a 30% stake from former chairman Ron Dennis and the late French Saudi-born entrepreneur Mansour Ojjeh. This marked the beginning of

their partnership, eventually increasing their ownership to 60% of the company. However, in December 2023, McLaren shareholders unanimously approved a complete recapitalization of the business. The aim of this move was to simplify and streamline the governance structure.

Since the midpoint of the 2023 season, McLaren has demonstrated its continued status as one of the top teams in F1. Both Lando Norris and Oscar Piastri consistently achieved points and podium finishes following midseason

upgrades, significantly boosting team morale. Beyond improving on-track performance, these achievements also enhanced McLaren’s standing with shareholders. As a result, one of McLaren’s shareholders has acquired full ownership of the company, resolving all financial uncertainties.

McLaren faced financial challenges due to Covid-19, prompting them to secure a $163 million loan from the National Bank of Bahrain. They also sold their stake in the team and arranged a leaseback deal for their renowned Technology

Center in Woking. Additionally, the team had to lay off 1000 employees in a bid to stabilize their finances during this period of difficulty. However, these financial struggles are now a thing of the past. Mumtalakat Holding Company, a

Bahrain sovereign wealth fund that has been associated with McLaren since 2007, has assumed complete ownership of the team. Let’s delve into their background and involvement with McLaren.\

Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, was established by Royal Decree in 2006 and is fully owned by the government. As of October 2023, the fund manages assets totaling $18.3 billion, according to the Sovereign Wealth Fund Institute.

In 2007, Mumtalakat first became involved with the McLaren F1 team by acquiring a 30% stake from former chairman Ron Dennis and the late French Saudi-born entrepreneur Mansour Ojjeh. This marked the beginning of

their partnership, eventually increasing their ownership to 60% of the company. However, in December 2023, McLaren shareholders unanimously approved a complete recapitalization of the business. The aim of this move was to simplify and streamline the governance structure.


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