McLaren Racing, the reigning Formula One world champions, are reportedly valued at $5 billion after a deal that gives Bahrain's Mumtalakat and Abu Dhabi's CYVN Holdings full ownership of the professional racing team, according to multiple reports.

The landmark deal, announced by the McLaren Group on Tuesday, gives Mumtalakat and CYVN the remaining 30 percent stake in McLaren they didn't own already by acquiring all shares previously held by MSP Sports Capital, O'Connor Capital Solutions-managed funds, Ares Sports, Media and Entertainment funds, and Caspian Funds.

Mumtalakat, a Bahrain sovereign wealth fund, will reportedly remain the majority shareholder of McLaren, and CYVN, majority-owned by the government of Abu Dhabi, will have a non-controlling stake.

McLaren has been a dominant fo

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