<p>US-based investment group MSP Sports Capital are taking a significant minority stake in the McLaren Formula One team, McLaren Racing said in a statement on Sunday.</p>.<p>The deal, for an initial 15% holding that will rise to a maximum 33% by the end of 2022, will value the British racing outfit at 560 million pounds ($740.49 million), it added.</p>.<p>Under the deal, MSP will put 185 million pounds into McLaren Racing over a two-year period.</p>.<p>The consortium members include The Najafi Companies, a private investment firm, and UBS O'Connor, a hedge fund subsidiary of Swiss investment banking firm UBS.</p>.<p>Jahm Najafi will become a vice-chairman of McLaren Racing, while Jeff Moorad of MSP and Rodrigo Trelles Zabala of UBS O'Connor will join the McLaren Racing board.</p>.<p>Bahrain's Mumtalakat holding company is the majority shareholder in McLaren Group. The Woking-based outfit have won the F1 constructors' championship eight times.</p>
<p>US-based investment group MSP Sports Capital are taking a significant minority stake in the McLaren Formula One team, McLaren Racing said in a statement on Sunday.</p>.<p>The deal, for an initial 15% holding that will rise to a maximum 33% by the end of 2022, will value the British racing outfit at 560 million pounds ($740.49 million), it added.</p>.<p>Under the deal, MSP will put 185 million pounds into McLaren Racing over a two-year period.</p>.<p>The consortium members include The Najafi Companies, a private investment firm, and UBS O'Connor, a hedge fund subsidiary of Swiss investment banking firm UBS.</p>.<p>Jahm Najafi will become a vice-chairman of McLaren Racing, while Jeff Moorad of MSP and Rodrigo Trelles Zabala of UBS O'Connor will join the McLaren Racing board.</p>.<p>Bahrain's Mumtalakat holding company is the majority shareholder in McLaren Group. The Woking-based outfit have won the F1 constructors' championship eight times.</p>