Ron Dennis has sold his stake in the McLaren Group, which is the holding company of both McLaren Racing and McLaren Automotive.
Due to Dennis’s departure, McLaren are now set to get a capital investment of £200 million, as Nidala (BVI) Limited are set to purchase 888,135 ordinary shares in the McLaren Group.
“We aren’t at liberty to disclose details of the investor. This is, as you will know, not uncommon practice.” said a McLaren spokesperson.
As per reports in ‘RaceFans’, ‘Michael Latifi, CEO of major Canadian food conglomerate Sofina and father of F2 racer and current Force India driver Nicholas Latifi, has interests in Nidala.’
The cash investment should bolster McLaren’s financial status, but McLaren Racing CEO Zak Brown had told the media in Barcelona that McLaren’s financial position was quite secure.
“Our shareholders have been in the sport a long time. They completely understand the sport
“If you look at the sponsorship that’s come in to Formula 1 teams this year we’ve brought in more new partners than anyone else. They’re patient, understanding, know the sport. We all want to bring in as many sponsor partners as possible, but they also know it’s not that easy.
“They give us what we need to go racing. They continue to invest in the racing team. So the more we bring in the more we can get. But we’re not strapped for money.” Zak Brown had said.
McLaren do have a partnership with Alonso’s clothing brand Kimoa but will be looking for more sponsors in the months to come.