McLaren, founded by a New Zealander but famed as the oldest active British team in Formula 1, could soon be 100 percent owned by Bahrain.

Rumours this week suggested the Woking based parent company McLaren Group, headed by American Zak Brown, was shaping up to hand over full ownership to Mumtalakat - Bahrain's sovereign wealth fund.

Already with a significant majority stake in McLaren, Mumtalakat then essentially confirmed that it was making moves that insiders believe will lead to Bahrain acquiring all the shares of McLaren's minority shareholders.

McLaren's "shareholders have unanimously approved a full recapitalisation of the Group", Mumtalakat announced in a statement.

Earlier in 2023, Forbes estimated the current value of McLaren's Formula 1 team at $2.2 billion.