McLaren have rejected rumours that Canadian billionaire Lawrence Stroll is close to securing a share in the Formula 1 team.

The businessman, who works in fashion, is believed to be interested in getting involved in the sport and has recently been linked with Marussia and Sauber.

McLaren have stated that suggestions that Stroll is poised to become a shareholder are "without a foundation".

A spokesperson for the team said: "McLaren Group has not received any notification from any of its shareholders in respect of a wish to sell any shares in the company.

"In order to be able to sell shares in the company, they must first be offered to the other shareholders. These rumours are therefore without a foundation."

There have been reports that part owner of the TAG group of companies Mansour Ojjeh is considering leaving the company.