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McLaren’s technology center close to £180 million sale

Credits: Archello

McLaren’s F1 Technology Center is close to sealing a sale deal of 180 million pounds to private equity firm TPG. The British squad would then lease the headquarters for continued use.

The sale of the Technology Center was announced last year after the Covid-19 pandemic hit McLaren financially, reporting losses of up to 72 million pounds. The McLaren Group had to also lay off 1200 employees.

Now it is announced that private equity firm Texas Pacific Group (which holds more than 85 billion dollars in assets) is in the talks to buy the Technology Center for 180 million pounds (250 million US dollars).

If the deal is concluded, a sale-to-leaseback contract would allow McLaren to continue working on site.

Despite McLaren’s monetary difficulties last year during the Covid-19 pandemic, the squad raised millions of pounds in new sponsorships and secured £150 million from the National Bank of Bahrain. A consortium led by MSP Sports Capital also bought a stake in the McLaren Group.

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