Ron Dennis, the man who in the last 35 years has shared the limelight with the illustrious list of pilots who have been parading around McLaren, is about to be dispossessed of his position as president and CEO of the holding company, the saddest and most ruthless ending for the main engine that turned a racing team into an empire. Over the past few months, Dennis has had a direct conflict with the group’s main shareholders, who have a package that is around 75% of the total, and who seem to have gotten their way: everything indicates that the executive will lose his powers and decision-making capacity at the end of the year, when his current contract expires, which will not be renewed.
The company’s shareholding division has become tangled in recent years. Dennis, who was away from the racing division for five years and returned in 2014, did so with 25% of the cake, while the rest was shared by the Saudi magnate Mansour Ojjeh (25%) and the Balearic fund Mumtalakat (50 %). Since he returned to take control of the team, Dennis has not tired of repeating that he knows the formula to return McLaren to the leading position in which history and muscle deserves to be. However, it was all about finding a source of income that was up to a challenge like that, but that capital inflow never happened.
The capital inflow required by Dennis’ plan to return the team to a preponderant situation has not occurred
Without such an important asset, this ex-mechanic obsessed with image and neatness has gone from being seen as the project captain to being considered as a drag, a circumstance that has caused the reaction of the other forces within the conglomerate of companies, which seek to push him away completely. Upon learning, the Briton launched an offer to acquire shares from a Chinese consortium, with which he had managed to raise close to 1.9 billion euros. The operation was not carried out due to the refusal of the selling party, determined to do without its boss.
According to Sky News, Dennis desperately tried to stop his forced departure on Friday, and appealed to the Supreme Court in London, which nevertheless did not intervene in what he considers a dispute between partners. That being the case, it would not be surprising if the most visible face in McLaren history – with the permission of Ayrton Senna – comes out the back door after a lifetime dedicated to driving the second most universal Formula 1 brand, historic Ferrari counter power. At the time of his exile, it will be necessary to see what happens to the 25% of the shares owned by the businessman from Woking (Great Britain), and if the agreement signed at the time forces him to sell them to the other owners, who in this way they could make and break at will.
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