Bahrain Firm Buys Into McLaren F1

McLaren Formula One team has received a new backer after it was confirmed that
Mumtalakat Holding Company – a Middle East investment firm wholly owned by the
Kingdom of Bahrain – had agreed a deal to buy a 30% stake in the team.

Should the stakeholding by finalised, McLaren’s parent company
DaimlerChrysler will still own 40% but the holdings of team boss Ron Dennis and
TAG will be reduced to 15% each.

A statement from McLaren confirmed that the change in ownership would not
affect the existing management team.

The deal must be cleared by competition regulators, which McLaren envisage
will take up to six weeks.