Latifi Invests £200M In McLaren Group

Canadian businessman Michael Latifi has invested £203.8m ($274.3m) into the McLaren Group.

The cash injection, which amounts to a 10% stake in the business, will benefit the Formula 1 team, McLaren Automotive and McLaren Technologies.

Latifi has strong connections to the sport – his son Nicholas currently races in Formula 2 and is the reserve driver for McLaren’s rival team, Force India.

In a statement, Michael Latifi said of his investment: “I have been an admirer of the McLaren brand and its businesses for some time. McLaren is a unique organisation in automotive, racing and technology with exciting long-term growth prospects, which is why I have made this investment.”

Shaikh Mohammed bin Essa Al Khalifa, McLaren Group Executive Chairman, added: “This injection of capital is a vote of confidence in our future strategy and the group remains as focused as ever in positioning for growth. We are delighted Michael Latifi has joined the McLaren family.”

The current F1 season is well underway, with the Monaco Grand Prix taking place this Sunday.