The Formula One team-owner is in talks with the Bahrain and Saudi sovereign wealth funds about a capital injection designed to steer it into the electric vehicle era, Sky News learns.
Both Mumtalakat Holding, a long-standing McLaren shareholder, and Saudi's Public Investment Fund, are expected to commit to the new capital-raising.It emerged this week that Mumtalakat had acquired part of McLaren's valuable heritage car collection as part of a further £100m financial commitment to the business.
Earlier this year, McLaren named former Ferrari executive Michael Leiters as the boss of its road-car division. McLaren has also undertaken a series of corporate transactions since the start of the pandemic, when it sought a government loan - a request which was rebuffed by ministers.
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