Abu Dhabi's CYVN Holdings has completed its acquisition of McLaren's Automotive business and a non-controlling stake in its racing business.

While no details of the financial sums involved have been mentioned, sections of the business media claim the deal values the F1 team at more than £3bn.

The deal sees the purchase of all shares held by MSP Sports Capital, together with funds managed by O'Connor Capital Solutions, Ares Sports, Media and Entertainment funds and Caspian Funds.

In terms of McLaren Racing, which oversees the F1, Indy Car - and from 2027 WEC - operations - the Bahrain sovereign wealth fund Mumtalakat remains the majority shareholder while CYVN has a non-controlling stake.

The newly formed McLaren Group Holdings Ltd will oversee the combined business of McLaren Automotive and CYVN's anchor investment in the UK, Forseven. The new Group will also include CYVN's shareholding in McLaren Racing and the newly formed McLaren Licensing business.

According to today's release, McLaren Automotive will benefit from CYVN's strategic investment in NIO, to deliver access to visionary technologies and electrification, in addition to three years of stealth mode development from the team at Forseven. This development process has leveraged Gordon Murray Technologies, following its strategic acquisition by CYVN Holdings in 2023 to accelerate CYVN's engineering and lightweighting expertise.

McLaren Automotive's portfolio will be expanded into new product categories, details of which will be announced later this year.

Nick Collins, currently CEO of Forseven, will assume the role of Chief Executive Officer of McLaren Group Holdings.

Under its Chairman, Jassem Mohamed Bu Ataba Al Zaabi, CYVN aims to redefine the high-performance and luxury sectors, set a new benchmark for excellence, and transform McLaren into a high-performing British automotive business on the global stage.

"I'm personally committed to making this vision a reality," said Jassem Al Zaabi, who will become Chairman of McLaren Group Holdings. "It isn't just about investing, it is about shaping the future of McLaren as a brand, as a business and its place on the global automotive map. We want to - and we will - push boundaries and deliver groundbreaking innovations that drive real progress in the sector.

"This is the start of an exciting new era for McLaren as a car brand and an automotive business. With our active ownership through CYVN Holdings and our portfolio of complementary businesses and strategic investments, McLaren will have access to world-class engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility. These resources will fuel McLaren's next chapter, enabling the brand to stay at the forefront of innovation.

"We are also equally committed to driving the long-term success of McLaren Racing. Our investment reflects our strong conviction in the Racing business' potential, and we look forward to supporting the team in building on their successes, winning more podiums, and inspiring fans worldwide."

"With the support and ambitions of our shareholder, we have a unique opportunity to sustainably grow McLaren into a world-beating company," added Nick Collins, McLaren Group Holdings Chief Executive Officer. "The combination of what McLaren has achieved, and what Forseven has built in a short time is incredibly complementary. Together, we believe McLaren can be more, can do more and can offer more."

Running concurrently with the integration and structural alignment process over the next six months, a turnaround plan for the existing McLaren Automotive operation is required and will commence immediately.

Collins explained: "We have a clear strategy to achieve our vision, and we will move at an incredible pace to do so. We need to optimise operations, deliver efficiencies and reshape the new integrated organisation, so that we can grow our portfolio of cars, enhance customer experience and continue strengthening our global supplier and dealer relationships."