McLaren won the constructors’ championship last year for the first time since 1998 and this year are well on course for a drivers’ and constructors’ title double.

Oscar Piastri and Lando Norris are first and second in the drivers’ championship having won 12 of the 15 races so far this season.

McLaren have more than double the points of their closest pursuers Ferrari in the constructors’ title chase.

A statement from McLaren said: “The simplified ownership structure and strengthened capital base resulting from the transaction will position McLaren Racing for continued success both on and off the track.

“The board and executive management team remain committed to delivering on the vision to be the most pioneering and exhilarating racing team in the world.”

McLaren Racing is owned by the McLaren Group, and is a separate business from McLaren Automotive, which was bought by CYVN Holdings earlier this year.

The transaction announced on Tuesday sees Mumtalakat and CYVN buy all the shares of McLaren’s minority shareholders, of which MSP had the largest stake.

Paul Walsh, the executive chairman of the McLaren Group said: “Our suite of minority investors came on board in 2020 and we thank them for their tremendous support over the past few years as we set McLaren Racing on a path to commercial growth and financial stability.

“We now have two fantastic shareholders in Mumtalakat, a long-standing and deeply valued partner, and CYVN, whose additional investment in Automotive and McLaren Racing, together with their strategic focus on advanced mobility, strengthens our ability to future-proof the business and capture new growth opportunities.”