It’s official: Bahrain’s sovereign wealth fund now holds full ownership of the McLaren Group, the majority shareholder of McLaren Racing. Mumtalakat, the Bahraini fund, has been investing in the McLaren Group since 2007.
Initially acquiring a 30 percent stake from founders Ron Dennis and Mansour Ojjeh, Mumtalakat gradually increased its ownership until now, when it has assumed complete control.
Under this new ownership structure, the McLaren Group, which boasts a majority stake in McLaren Racing—a prominent player in Formula 1, IndyCar, Formula E, and Extreme E—has outlined its plans. Interestingly, these plans include a desire to “explore potential technical partnerships with industry partners.”
The McLaren F1 team has showcased remarkable performance at the Australian Grand Prix. Lando Norris achieved an impressive P3 on the starting grid, while Oscar Piastri will commence his home race from P5.
“We are delighted at Mumtalakat’s continued commitment to McLaren through this deal, which strengthens our ownership and governance structure,” McLaren Group executive chairman Paul Walsh stated.
“This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”
Following the confirmation of McLaren Racing CEO Zak Brown’s contract extension until at least 2030, another significant announcement has emerged.
Under Brown’s leadership, the Formula 1 team has experienced a resurgence, evident in their impressive haul of 302 points last season, marking their best performance since 2012.
McLaren is widely acknowledged to possess one of the top driver line-ups on the F1 grid. Lando Norris, who recently inked a long-term deal ahead of the 2024 F1 season, is committed to the team beyond 2025. His teammate, Oscar Piastri, is also secured until the conclusion of 2026.
Expressing his excitement about the contract extension, Brown stated: “I am thrilled to continue leading McLaren Racing and to be a part of such a historic race team.
“It is a privilege to work alongside the talented men and women across McLaren Racing’s different race series.
“Together, we will continue to push the boundaries of motorsport and strive for the highest performance on and off the track.”
