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US investment group to acquire a third of McLaren Racing

(Photo by Joan Valls/Urbanandsport/NurPhoto via Getty Images)

MSP Sports Capital will invest $246m (€202.7m) into McLaren Racing for an initial 15-per-cent stake, rising to a maximum 33 per cent by the end of 2022, valuing the UK-based motor-racing team at $740.5m.