In a recent development, Mumtalakat Holding Company acquired full ownership of the shares previously held by TAG Group Limited (14.32%), Michael Latifi (9.84%), and smaller owners (approximately 17%). This acquisition marks a significant milestone for Mumtalakat as it solidifies its position as a leader in the luxury supercar and motorsports industries. The company’s CEO, Shaikh Abdulla bin Khalifa Al Khalifa, expressed excitement about McLaren’s future prospects, stating that this reorganization and simplified structure will pave the way for success and open up new strategic opportunities. He also emphasized his commitment to innovation and excellence, highlighting the completion of this process as a testament to his unwavering support for McLaren.
On the eve of the Australian Grand Prix in Melbourne, McLaren made another important announcement. Zak Brown, the Chief Executive Officer (CEO), extended his contract until 2030. Brown, who initially joined McLaren Racing in 2016 as Executive Director of Technology Group, took on the role of CEO in April 2018. Since then, he has played a crucial role in shaping the strategic direction of McLaren Racing, overseeing high operational performance across all racing teams, and driving significant marketing and commercial development. Paul Walsh, Executive Chairman of the McLaren Group, praised Brown’s exceptional leadership qualities and expressed confidence in his ability to lead the team to even greater success in the future.
In his response to the contract extension, Brown expressed his excitement to continue leading McLaren Racing and being part of such a historic racing team. He acknowledged the talented individuals across various racing series within McLaren Racing and emphasized their collective commitment to pushing the boundaries of motorsport and striving for excellence both on and off the track.
It is important to note that the McLaren Group encompasses various entities, including McLaren Racing (the Formula 1 team and racing projects), McLaren Automotive (manufacturer of supercars, GTs, and other road vehicles), McLaren Electronic Systems, McLaren Marketing, and Absolute Taste (catering provider for the organization and its partners). This diversified portfolio allows McLaren to leverage its expertise and resources across different sectors, further enhancing its position in the industry.
In a recent announcement on December 19, McLaren Group Limited (“the Group”) successfully concluded its capital reorganization. This marks a significant milestone in the ongoing transformation of the prestigious automotive and motorsport Group.
As part of the reorganization, Bahrain Mumtalakat Holding Company (“Mumtalakat”), a long-term strategic investor and sovereign wealth fund of the Kingdom of Bahrain, now assumes full ownership of the Group’s share capital. This comes after the conversion of all preferred shares into ordinary shares.
Paul Walsh, Executive Chairman of the McLaren Group, expressed his satisfaction with Mumtalakat’s continued commitment to McLaren through this agreement. He emphasized that this strengthens the ownership and governance structure of the Group, allowing them to focus on their long-term business plan. This includes investments in new products and technologies, as well as potential technical partnerships with industry leaders.
His Excellency Sheikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, highlighted that this announcement represents the next phase of the Company’s growth in the luxury supercar and motorsports industries. The reorganization and simplified structure position McLaren for success and open strategic partnership opportunities, enhancing the company’s growth in the coming years. He also emphasized his support for McLaren’s innovation and long-term commitment to excellence.
The press release further emphasizes McLaren’s success and reputation in elite motorsport, competing globally in Formula 1, IndyCar, Formula E, Extreme E, and esports for over six decades. Since the establishment of McLaren Automotive in 2011, the company has quickly become one of the leading and most respected brands of high-performance vehicles in the world. Its innovative vehicles, such as the P1, Senna, and Speedtail, are now considered modern classics and symbols of innovation. Today, McLaren’s product portfolio, including GT, supercars, Motorsport, and Ultimate models, is available through a growing network of over 100 retailers in more than 40 markets worldwide.
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Football is full of surprises, and one of them happened in the last championship game. The blue team, which was last in the table, managed an incredible comeback and defeated the red team, which had been undefeated for months. It was an exciting match, with many goals and spectacular plays. Fans were ecstatic with the blue team’s surprising victory.
The highlight of the match was player number 10, who scored three goals and provided two assists. He was responsible for leading the blue team to victory. His skill and determination were admirable, and he was cheered on by the crowd at the end of the game.
Despite the defeat, the red team showed a good performance during the match. They had several chances to score goals, but the defense of the blue team was impeccable. The goalkeeper made several incredible saves, ensuring the victory for his team.
With this victory, the blue team managed to climb a few positions in the table and is now closer to the top. They are confident that they can continue with this performance and achieve the coveted championship title.
The next match for the blue team will be against the green team, which is in second place in the table. It will be an exciting showdown, and the fans are eager to see the performance of their team. The number 10 player, who shone in the last match, will once again be the highlight of the blue team.
Football is unpredictable, and that’s what makes it so exciting. The blue team has shown us that anything can happen on the field, and that we should never underestimate an opponent. We are looking forward to seeing what the future holds for this team and for the rest of the championship.
