The McLaren Group has confirmed that Michael Latifi, father of Formula 2 driver and Force India test driver Nicholas Latifi, is behind a recent £203.8 million ($270m) investment.
McLaren confirmed last week that it had issued new equity capital following a major investment by Nidala (BVI) Limited in the entire McLaren Group which encompasses its Formula 1 team, McLaren Applied Technology and its automotive business.
A statement issued on Monday confirmed Latifi's involvement.
"McLaren Group is pleased to confirm that Michael Latifi, a Canadian businessman, has become a shareholder, in a move that significantly strengthens the group’s balance sheet and underpins its ambitious growth plans."
The Canadian said he had long admired the McLaren brand which motivated him to get involved.
"I have been an admirer of the McLaren brand and its businesses for some time.
"McLaren is a unique organisation in automotive, racing and technology with exciting long-term growth prospects, which is why I have made this investment. I am proud to be part of McLaren and this incredible brand."
McLaren group executive chairman, Shaikh Mohammed bin Essa Al Khalifa, added: "This injection of capital is a vote of confidence in our future strategy and the group remains as focused as ever in positioning for growth. We are delighted Michael Latifi has joined the McLaren family."
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