Mum’s the word for the McLaren Group as Mumtalakat, Bahrain’s Sovereign Wealth Fund, has acquired a 100 percent shareholding. The McLaren Group includes the McLaren Formula 1 team and McLaren Automotive. Mumtalakat, which means ‘assets’ in Arabic, has been a major investor since the McLaren group was formed in 2007, owning a 60 percent shareholding before becoming the outright owner.

McLaren Automotive has struggled since the pandemic, having to suspend production and cancel its global racing activities. Despite cutting 1,000 jobs and restructuring, the company remains under financial strain, recording a pre-tax loss of £276 million in 2023.

Insider sources have anonymously revealed to the DailyCarBlog that the McLaren group is currently engaged in talks with the Chinese automotive group Geely to bolster its transition to electric cars.

Mumtalakat has over £14 billion worth of assets under management; however, the group’s liquidity is not a get-out clause for McLaren. For example, in 2022, the wealth fund recorded a net loss of over £113 million Dinars.

So, is it out of the frying pan and into the fire for McLaren? If Mumtalakat were to default for any reason, the Bahraini government would step in to provide financial cover.