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McLaren Group
McLaren Group Limited (/məˈklærən/ mə-KLARR-ən) is a British holding company based in Woking, England, which is involved in Formula One and other motorsport, the manufacture of sports cars and golf equipment.
The group was founded by Ron Dennis shortly after his acquisition of the McLaren Formula One team in 1981, as the TAG McLaren Group due to a partnership with Mansour Ojjeh's TAG Group. The Formula One team had been established by New Zealander Bruce McLaren in 1963.
McLaren Group was renamed McLaren Technology Group in 2015. In June 2017 it was announced that Dennis had sold his 25% shareholding in the company to the other shareholders, in addition to his shares in McLaren Automotive. The group then merged with McLaren Automotive to form a new company using the previous McLaren Group name.
Bruce McLaren started Bruce McLaren Motor Racing in 1963 and the team first entered Formula One in 1966. Teddy Mayer took over direction of the group following McLaren's death while testing a Can-am series car in 1970. Mayer subsequently led McLaren to their first World Constructors' Championship in 1974 with Brazilian driver Emerson Fittipaldi, who also won the World Drivers' Championship that year.
Between 1998 and 2011, McLaren built both the McLaren Technology Centre, a new headquarters and factory for the Group, and the McLaren Production Centre, in Woking, England.
In late May 2020, McLaren Group announced the layoff of 25% of its workforce as part of a company restructure due to the COVID-19 pandemic. The group announced in December 2020 that American investment firm MSP Sports Capital had purchased 15% of McLaren Racing, as part of a deal that would see them grow their stake to 33% by the end of 2022. The £185 million investment valued the team at £560 million. In April 2021, Global Net Lease announced that it had agreed to acquire the McLaren Technology Centre in Woking for £170 million. The group sold McLaren Applied to Greybull Capital in August 2021.
In March 2024, Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain acquired all outstanding shares of McLaren Group and took full control of the company. In December 2024, Mumtalakat Holding Company sold 100% of McLaren Automotive to Abu Dhabi-based investment firm CYVN Holdings. The sale also included a non-controlling stake in the McLaren Group.
McLaren originally entered Formula One in 1966 under its founder Bruce McLaren. However, in 1970 he died in a crash. The team was saved by Teddy Mayer, who helped the team win their first Constructors and Drivers titles. After Mayer, Ron Dennis took over the McLaren Racing team and worked for the company until 2018. However, at the beginning of the 2009 season, Dennis handed over the F1 department to Martin Whitmarsh so Dennis could focus on expanding McLaren overall, and especially in the road car market.
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McLaren Group
McLaren Group Limited (/məˈklærən/ mə-KLARR-ən) is a British holding company based in Woking, England, which is involved in Formula One and other motorsport, the manufacture of sports cars and golf equipment.
The group was founded by Ron Dennis shortly after his acquisition of the McLaren Formula One team in 1981, as the TAG McLaren Group due to a partnership with Mansour Ojjeh's TAG Group. The Formula One team had been established by New Zealander Bruce McLaren in 1963.
McLaren Group was renamed McLaren Technology Group in 2015. In June 2017 it was announced that Dennis had sold his 25% shareholding in the company to the other shareholders, in addition to his shares in McLaren Automotive. The group then merged with McLaren Automotive to form a new company using the previous McLaren Group name.
Bruce McLaren started Bruce McLaren Motor Racing in 1963 and the team first entered Formula One in 1966. Teddy Mayer took over direction of the group following McLaren's death while testing a Can-am series car in 1970. Mayer subsequently led McLaren to their first World Constructors' Championship in 1974 with Brazilian driver Emerson Fittipaldi, who also won the World Drivers' Championship that year.
Between 1998 and 2011, McLaren built both the McLaren Technology Centre, a new headquarters and factory for the Group, and the McLaren Production Centre, in Woking, England.
In late May 2020, McLaren Group announced the layoff of 25% of its workforce as part of a company restructure due to the COVID-19 pandemic. The group announced in December 2020 that American investment firm MSP Sports Capital had purchased 15% of McLaren Racing, as part of a deal that would see them grow their stake to 33% by the end of 2022. The £185 million investment valued the team at £560 million. In April 2021, Global Net Lease announced that it had agreed to acquire the McLaren Technology Centre in Woking for £170 million. The group sold McLaren Applied to Greybull Capital in August 2021.
In March 2024, Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain acquired all outstanding shares of McLaren Group and took full control of the company. In December 2024, Mumtalakat Holding Company sold 100% of McLaren Automotive to Abu Dhabi-based investment firm CYVN Holdings. The sale also included a non-controlling stake in the McLaren Group.
McLaren originally entered Formula One in 1966 under its founder Bruce McLaren. However, in 1970 he died in a crash. The team was saved by Teddy Mayer, who helped the team win their first Constructors and Drivers titles. After Mayer, Ron Dennis took over the McLaren Racing team and worked for the company until 2018. However, at the beginning of the 2009 season, Dennis handed over the F1 department to Martin Whitmarsh so Dennis could focus on expanding McLaren overall, and especially in the road car market.