Ron Dennis will reportedly be suspended from his role as Chairman of McLaren this weekend, after a legal challenge at London's High Court failed.
The Briton, who has been in charge of the McLaren Formula 1 team for almost 40 years, is fighting a bid by McLaren's shareholders to remove him from the company following a disappointing few seasons.
Dennis owns 25 per cent of the McLaren Group, with Mansour Ojjeh also owning 25 per cent, whilst Bahraini sovereign wealth fund Mumtalakat owns a majority holding at 50 per cent.
Ojjeh and Mumtalakat want to remove Dennis, but the 69-year-old is keen to increase his control over the company and presented a £1.65 billion takeover backed by Chinese investors to McLaren's shareholders last week.
It's believed they rejected the deal and now want to place Dennis on gardening leave until his contract expires in mid-January.
Dennis appeared in court on Thursday and Friday this week in an attempt to get an injunction against the move. However it's believed the request was rejected.
McLaren held an emergency board meeting on Friday evening according to Sky News and agreed to push ahead with the move to remove Dennis with immediate effect.
It's expected an announcement could be made this weekend or early next week, though McLaren itself has refused to comment.
