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Tuesday, April 16, 2024
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Broncos Owner Among Growing Number Of F1 Investors

  • Broncos co-owner Rob Walton is the latest high profile figure linked to Formula 1 via McLaren.
  • The Alpine F1 team has a long list of celebrities newly attached as minority investors.
Walmart Corporate

Another day, and yet another high-profile sports figure is being linked to Formula 1.

The latest news comes around McLaren Racing, which since 2020 has reportedly had under-the-radar financial backing from Rob Walton — the Walmart heir with a net worth of around $70 billion, who was a driving force of the Walton-Penner group’s $4.65 billion purchase of the Denver Broncos in August.

Walton invested in McLaren’s F1 team through his family office at the same time as MSP Sports Capital, according to Bloomberg. The U.S. investment group acquired a minority ownership stake in December 2020 for about $195 million, valuing the team at nearly $600 million

While Walton’s investment is not new — and actually came before he was known to be a bidder for the Broncos — Thursday’s revelation continues a trend of notable figures becoming more involved in F1.

Just this week, the Alpine F1 team announced that Kansas City Chiefs stars Patrick Mahomes and Travis Kelce had become new investors, joining a star-studded group that led a $210 million cash infusion over the summer. New investors also include Rory McIlroy and boxer Anthony Joshua, who join existing investors with Hollywood fame Ryan Reynolds, Rob McElhenney, and Michael B. Jordan.

Expansion Update

American racing figure Michael Andretti has cleared significant hurdles in his efforts to lead an expansion group for an 11th team on the F1 grid — which could be another opportunity for interested U.S. sports figures to potentially buy into F1 further.

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