• Loading stock data...
Saturday, April 26, 2025

McLaren Looks to Raise Additional $620M

McLaren/Design: John Regula

Just days after confirmation of a $760 million funding round, McLaren announced plans to raise another $620 million in a bond issue.

The transactions are subject to conditions, with the bond issue expected to be classified as one of the lowest-rated types of debt.

It’s not immediately clear how the new fundraising will affect equity distribution.

Bahrain’s sovereign wealth fund held 56% of McLaren’s ordinary shares and 68% of its preference shares as recently as April.

  • As part of the new $760 million round, the Saudi Arabia Public Investment Fund and Ares Management invested $550 million in preference shares and equity warrants. Existing shareholders and a “limited number” of new private investors agreed to invest the rest of the amount.
  • At the end of last year, MSP Sports Capital said it would acquire a 15% stake in McLaren’s racing division over two years for $247 million at a $746 million valuation.

McLaren is aiming for all new cars to be hybrids by 2026. Its racing division will compete in Extreme E as the 10th team of the five-race series.

In Q1 2021, McLaren completed a $261 million strategic investment in McLaren Racing to fully fund its teams through 2023. The same quarter, it reported $260 million in revenue.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
July 9, 2009; Auburn Hills, MI, USA; Detroit Pistons president Joe Dumars during the press conference to introduce their new head coach John Kuester at their practice facility.

Joe Dumars Leaving NBA League Office to Run Pelicans

Joe Dumars was the architect of the 2004 champion Pistons.
Mar 20, 2025; Providence, RI, USA; Arkansas Razorbacks forward Karter Knox (11) controls the ball against Kansas Jayhawks during the first half at Amica Mutual Pavilion.

Men’s March Madness Sets Opening-Day Viewership Record

CBS Sports and TNT Sports scored big with Arkansas–Kansas.

Featured Today

Apr 13, 2025; Tampa, Florida, USA; Tampa Bay Rays center fielder Jake Mangum (28) scores a run against the Atlanta Braves in the sixth inning at George M. Steinbrenner Field.

The Rays Groundskeepers Are Adjusting to Life Outside the Dome

After nearly three decades in a dome, Tampa groundskeepers were forced outside.
April 25, 2025

The Former NBA Agent Who Became a Pickleball Deputy Commissioner

Chris Patrick went from representing Jimmy Butler to pickleball deputy commissioner.
Apr 5, 2025; San Antonio, TX, USA; Duke Blue Devils forward Cooper Flagg (2) reacts after a three point basket against the Houston Cougars during the first half in the semifinals of the men's Final Four of the 2025 NCAA Tournament at the Alamodome.
April 21, 2025

Cooper Flagg’s Timing Is Perfect for the NBA and USA Basketball

The projected No. 1 pick just declared for the draft.
Apr 14, 2025; New York, New York, USA; Paige Bueckers is interviewed by ESPN after being selected with the number one overall pick to the Dallas Wings in the 2025 WNBA Draft at The Shed at Hudson Yards
April 21, 2025

ESPN’s WNBA Coverage Mirrors the League’s Stunning Growth

“I don’t think we stand still in our coverage of women’s sports,” says Rowe.

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

This week, Two-time Super Bowl Champion and CBS NFL analyst Logan Ryan joins us to talk the business of sports on our third installment of Portfolio Players.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.
February 18, 2025

Tiger Woods Signs First PGA Tour Player to Wear Sun Day Red

Karl Vilips will wear Sun Day Red at his season debut at the Mexico Open.
Teammates embrace during matchup in The Hundred cricket league
February 15, 2025

Google, Microsoft, Adobe CEOs Buy Stakes in Cricket League

The England and Wales Cricket Board raised £520m by selling team stakes.
Jul 30, 2022; Pasadena California, USA; Juventus forward forward Dusan Vlahovic (9) and Real Madrid forward Vinicius Jose Paixao (20) battle for the ball in the first half during an international friendly at the Rose Bowl.
February 14, 2025

‘Make Juventus Great Again’: Crypto Firm Tether Buys Stake in Soccer Club

Tether is just one of many crypto firms making sports investments.