McLaren Racing announced it received an investment from MSP Sports Capital, a New York-based privately held investment advisory firm. MSP Sports Capital and its limited partners were joined by The Najafi Companies and UBS O'Connor, which provided co-investment.
The transaction values McLaren Racing at £560m and strengthens the team's long-term plan for growth and continued success.
Recent MSP investments include stakes in Agrupación Deportiva Alcorcon S.A.D., Waasland Beveren, which plays in the Belgian Jupiter League, a Spanish football team based in Madrid, and Estoril Praia Futebol SAD, a Portuguese sports club based in Lisbon which is currently in first place in the LigaPro. MSP's McLaren Racing investment builds on a portfolio of high performing sports properties.
Steven Wasserman, Principal at MSP, commented: "We are delighted to invest in McLaren Racing and are excited by the prospects for the business. It is an honor to be a part of this storied franchise. We see significant growth potential in all of our investments and believe that McLaren's history, management and cutting-edge technology capability make it an ideal partnership for our organization." This investment continues and furthers our mission to source and develop compelling opportunities on behalf of our fund investors.
"This investment represents a key moment in the progress of McLaren Racing. MSP is first and foremost a sports investor," said Zak Brown, CEO of McLaren Racing. "They know the market and their team has considerable experience and proven success in global sports properties. They are a partner as much as a shareholder, with the ability to leverage their network and knowledge for the long-term benefit of McLaren Racing."
"We're excited about the opportunity to support Zak Brown and his management team and to help grow the McLaren Racing brand," said Jeff Moorad, Principal at MSP. "We're committed to assist the team in accomplishing its objective of returning to the front of the grid."
Jahm Najafi, Principal at MSP said, "As a Principal at MSP, I am delighted that we have been able to execute on such an exciting transaction and feel privileged to help steward and support such an enduring and admired company. We feel strongly in both the asset quality and our execution capabilities, such that my firm, The Najafi Companies, has decided to come in as a co-investor."
About MSP Sports Capital
MSP Sports Capital is an operationally focused private investment manager targeting tactical investments in sports and the related sports ecosystem. MSP seeks opportunities in dynamic sports-related sectors where its investment partners can support value creation and corporate efficiencies. MSP's principals are experienced, well-known figures in the sports industry, as owners, investors and operators in the National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), ESPN, and sports management. MSP is headquartered in New York. For more information, please visit: http://mspsportscapital.com/
About UBS O'Connor
UBS Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world.
UBS O'Connor is UBS Asset Management's global single-manager hedge fund platform, offering both multi-strategy and standalone capabilities, with USD 7.1 billion in assets under management as of November 1, 2020.
About The Najafi Companies
The Najafi Companies is an entrepreneurially-driven private investment firm which makes highly selective investments across industries with significant holdings in consumer, sports, media, ecommerce, retail and technology. By funding its investments with internally generated capital and utilizing a strategy of concentration, not diversification, Najafi is empowered to think long-term, remain highly flexible and operate in true alignment with management. The team's passion is to create value in areas that are underserved or undergoing rapid transformation, and during these uncertain times, The Najafi Companies continues its mission to "do well and do good" and partner with world-class, entrepreneurial teams. Headquartered in Phoenix with offices in LA and NY.
About McLaren Racing
McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966, since when McLaren has won 20 Formula 1 world championships, more than 180 Formula 1 grands prix, the Le Mans 24 Hours at its first attempt and the Indianapolis 500 three times.
McLaren Racing currently competes in Formula 1 globally and INDYCAR in the US. The team will contest the 2021 FIA Formula 1 World Championship with Lando Norris and Daniel Ricciardo, and the INDYCAR Series with drivers Pato O'Ward and Felix Rosenqvist, who will both be joined by Juan Pablo Montoya for the 2021 Indianapolis 500.
