Ron Dennis sells his stake in McLaren, will leave company
McLaren has confirmed Ron Dennis will sell his stake in the supercar maker and racing team operator, and will leave the company he’s been involved with for 37 years. As part of his departure, a new company, the McLaren Group, will be formed to hold both McLaren Automotive, the supercar maker, and McLaren Technology Group, which owns the racing team. Bahrain’s sovereign wealth fund, Bahrain Mumtalakat Holding Company, and the TAG Group will remain as McLaren’s majority shareholders. According to Autocar , Dennis will receive around 275 million pounds ($465 million) for his 25 per cent share in McLaren Technology Group, and his 11 per cent stake in McLaren Automotive. The transaction will reportedly close within “the next days or months”. Above: Ron Dennis. Dennis took charge of the struggling McLaren race team in 1980. Under his guidance, the team won 158 Grand Prix races, and 17 Formula One world championships. The team also featured a cavalcade of renowned drivers, includin...