The owners of McLaren Racing announced a deal to acquire the 30% of the Formula 1 team they don’t own. The transaction values the team at $5 billion, according to someone familiar with the details who was not authorized to speak publicly.

Bahraini sovereign wealth fund Mumtalakat and Abu Dhabi-based automotive investment group CYVN Holdings are buying the stake held by MSP Sports Capital, Ares Investment Management, UBS O’Connor and several smaller shareholders. Mumtalakat will continue as the team’s majority shareholder.

MSP Sports Capital, which was founded in 2019 by Jahm Najafi and Jeff Moorad, invested £185 million in December 2020. The post-money valuation was £560 million. MSP’s exit means a 10x return, based on the 2020 pre-money valuation. It is the biggest sports team exit ever for an institutional fund. Kajafi and Moorad will both leave the McLaren Racing board.

“When we invested in McLaren Racing, our goal was to bring that same experience, capital, and commitment to help restore one of motorsport’s most legendary brands,” Moorad said in a statement. “With ownership now consolidated in Bahrain and Abu Dhabi, McLaren is poised for an even brighter future.”

McLaren and MSP declined to comment on the financial terms.

In 2018, McLaren lost $137 million on $166 million in revenue. Five years later, the team turned a $38 million operating profit on $536 million in revenue, with further gains reached in 2024 that will be reported in the coming weeks under Zak Brown, who took over as McLaren Racing CEO in 2018.

Last week, McLaren announced Mastercard will be the team’s naming partner starting in 2026, ending a decade-plus without a title sponsorship agreement. The deal is worth a reported $100 million annually.

McLaren won its ninth constructors’ title last year and first since 1998—it tied Williams for second-most titles, behind only Ferrari’s 16. Lando Norris finished runner-up in the driver standings.

McLaren has been even more dominant this season, with 12 wins in 15 races and more than double the points of Ferrari and Mercedes. Oscar Piastri (seven wins) and Norris (five wins) are in tight competition for the 2025 drivers’ title.

F1 has been transformed under Liberty Media, which bought the race series in early 2017 for $8 billion, including debt. Owning an F1 team used to be a license to burn through cash, but 80% of teams made money in 2023. Liberty broadened the appeal of the sport through its popular Drive to Survive Netflix series, expanded race schedule and introduced cost caps.

Last year, Sportico valued the 10 F1 teams at $2.3 billion on average, up 44% from 2023. McLaren’s value jumped 70% to $2.65 billion, ranking fourth behind Ferrari ($4.8 billion), Mercedes ($3.9 billion) and Red Bull Racing ($3.5 billion).