McLaren: Ron Dennis would be looking to return to business

The information is revealed by Sky News and could make a big splash: Ron Dennis, the legendary head of the McLaren team from 1980 to 2009, might attempt a comeback by taking control of McLaren F1.

The visit of David Cameron, the Prime Minister of Great Britain, to China, as usual, allowed many British business leaders to meet potential investors. Ron Dennis was among them. As the head of the McLaren Group, he reportedly explored opportunities in the Middle Kingdom with the aim of raising funds to acquire the 25% stake in the group held by Mansour Ojjeh, the Saudi businessman currently recovering from a major lung operation.

If Sky indicates that Mr. Ojjeh could consider a sale, a McLaren spokesperson said Thursday: « Mansour Ojjeh has expressed no desire to sell his shares. So, it’s business as usual for everyone at McLaren, and we remain fully focused on our new Formula 1 with the aim of improving our on-track performance for the 2014 season. »

Heading 25% of the firm himself, Ron Dennis would hope to hold at least 50% of the shares and is even eyeing Bahrain, where the sovereign fund Mumtalakat, holder of the remaining 50%, is based. However, it is uncertain whether the Emirati fund would be inclined to sell its shares. In such a scenario, Ron Dennis would have full control over McLaren Group. Experts estimate the price of 25% of the shares in the firm at around 125 million pounds sterling, or approximately 150 million euros.

If Ron Dennis were to succeed in his aims, one of his objectives would be to restore the prestige of McLaren F1, exasperated as he would be by the season /f1/actualite/16676-ross-brawn-quitte-mercedes.html, which saw the British team fail to reach the podium in 19 races, a first since the 1980 season. But McLaren Group today represents much more than just motorsport, as the company has become involved in tourism, medicine, and even biomechanics. The visit to China was also an opportunity for the businessman to promote these aspects.

Sky reports that if Dennis manages to control at least 50% of McLaren’s shares, Martin Whitmarsh’s position as team director since 2009 would become very precarious. A situation that could weigh on the potential arrival of Fernando Alonso to the team, as Ron Dennis is hesitant about the return of the Spaniard who played a major role in the 2007 Spygate affair by testifying and providing evidence of Ferrari’s espionage by McLaren to avoid heavy sanctions.

If Martin Whitmarsh were to leave his position, the name of Ross Brawn is mentioned as a successor, the latter – in addition to being free of any function – seemingly enjoying a favorable opinion from Ron Dennis.