McLaren Group has confirmed Canadian businessman Michael Latifi, father of F1 test driver and F2 racer Nicholas Latifi, has bought a substantial shareholding in the team through his Nidala company, as revealed by RaceFans last week.
Latifi has invested £200 million in the group. Its constituent companies include McLaren Racing – which operates the F1 team – McLaren Applied Technologies and McLaren Automotive.
The investment “significantly strengthens the group’s balance sheet and underpins its ambitious growth plans”, said the team in a statement.
Latifi said he has “been an admirer of the McLaren brand and its businesses for some time.”
“McLaren is a unique organisation in automotive, racing and technology with exciting long-term growth prospects, which is why I have made this investment. I am proud to be part of McLaren and this incredible brand.”
Nicholas Latifi is an F1 test driver for Force India. The 22-year-old is currently ninth in the Formula Two championship for DAMS.
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