- Jan 10th 2007 at 3:04PM
Bahrain to take 30 percent stake in McLaren
Looks like Bahrain is getting into F1 in a big way. Through the nation's wholly owned Mumtalakat Holding Company, the Kingdom of Bahrain is about to buy a 30% stake in McLaren. Apparently McLaren boss Ron Dennis and Saudi investor Mansour Ojjeh are each selling half their share of the Formula One team. DaimlerChrysler will still have 40% and Dennis and TAG will each still have 15%. No changes are expected in the management team.
This is kind of a big deal after rumors had circulated that Mercedes was in talks to buy the other 60% of McLaren. Some see this as another step for Ron Dennis towards retirement, but he insists that his love of F1 has never been stronger. Chief executive Martin Whitmarsh has already started to assume more control over the past few years, but Dennis probably wants to stick around to see the team reclaim the top spot in the manufacturers' championship. And with two-time defending champion Fernando Alonso in the driver's seat next year, he could get his wish.
[Source: Reuters via Drive.com.au]