Bahrain's sovereign wealth fund Mumtalakat set to take full control of McLaren F1 team | F1
The Gulf state’s sovereign wealth fund is on the verge of effectively becoming McLaren’s sole owner in a deal that could be announced as soon as this week, according to a report by Sky News.
It would involve “roughly 20 per cent of the equity in McLaren being converted into the new contracts”, the report said.
Sky News reported the new contracts will have the economic rights to benefit from a future “liquidity event” such as an initial public offering of McLaren, but would not be classed as shares.
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