MSP-McLaren Deal Increases F1's North American Footprint

U.S.-based sports investment group MSP Sports Capital’s arrival to F1 via its investment in McLaren Racing "increases North American interest in a sport whose commercial rights are held by U.S.-based Liberty Media." MSP Partner Jeff Moorad said that the group had "looked into acquiring Force India when that team," now Racing Point, went into administration in '18. They also "considered former champions Williams, whose sale to U.S.-based Dorilton Capital was announced in August. But Moorad said that McLaren was ''by far' the first choice." MSP Partner Jahm Najafi said that Liberty’s stewardship of the sport "provided investor confidence." Najafi said, "We believe that Liberty’s business plan of creating more franchise-like values on the teams are going to flow in part from the cost cap. ... We’re betting on the long-term future of Formula One" (REUTERS, 12/14).