McLaren rejected the original offer. However, Audi offered a better deal and both parties came to an agreement.
The lazy Sunday ended abruptly when Automotive News’ sister website Automobilwoche published an article in which they claimed McLaren would go under and be split into two. According to the German magazine, the plan was to buy the road car division and then purchase the motorsport branch in order to control Formula 1’s racing team.
In an interview with Blooming, a BMW spokesperson denied the rumor, while an Audi representative stated that the Ingolstadt-based marque “routinely contemplates various ideas for cooperating” as part its “strategic discussions.” There could still be truth to the original reporting by Automobilwoche, as Autocar claims that Audi is purchasing the entire McLaren Group.
Mumtalakat controls 62.55% of McLaren’s shares. This means that it has control over the brand McLaren and the F1 team. According to the official website, Bahrain Mumtalakat Holding Company is the sovereign wealth fund for the Kingdom of Bahrain.
Autocar reports that the initial offer by the Volkswagen Group through Four Rings was rejected as the board and McLaren executive chair Paul Walsh wanted to double the amount. They eventually came to an agreement, according to an unnamed source in Britain that McLaren will be changing its hands very soon.
McLaren has not responded to Autocar’s inquiry as of the writing of this article, but an Audi spokesperson declined to comment on the sensitive matter. When and if either company responds, we will update the article.
If the deal is done, it will allow the VW Group to enter F1 after a long period of negotiations for a possible 2026 entry. The engine will have been overhauled again. It is also interesting to see how McLaren’s road-going team will be placed within the family, considering the complexity of the hierarchy with Lamborghini and Porsche as well as the newly formed Bugatti Rimac.
Last but not least, McLaren CEO Mike Flewitt resigned last month. The marque, which is based in Woking, is also cash-strapped as it had to lease its headquarters back. It’s still too early to know if these facts are connected to Audi buying McLaren Group.