Ron Dennis, the man who led the McLaren team to numerous Formula 1 world titles, setting the standards by which teams in the sport today operate, is reported to have sold all of his shares in the organisation.
The decision – reported by Sky News and expected to be confirmed today (Friday) – ends a 37-year association between the two sides, which began when the team was struggling for success in F1 in 1980. Today, the McLaren Group is valued at more than €2.2-billion.
The split would be formalised by Dennis transferring his remaining 25% stake in McLaren Technology Group and 11% shareholding of McLaren Automotive. He is reported to have received €312-million for the shares and, as such, he will have no role at McLaren in future.
Dennis, who turned 70 this month, was awarded a CBE in 2000. He rose to prominence when he was placed in charge of the then struggling McLaren team in 1980, leading it back to race victories and world championships. Drivers who won world titles while he was at the helm of McLaren were Niki Lauda, Alain Prost, Ayrton Senna, Mika Häkkinen and Lewis Hamilton.
Dennis and his co-owners of the McLaren Group fell out in around 2014 for unspecified reasons. That triggered a chain of events where he attempted to buy McLaren back from them. However, when he was unable to raise the funds to do so, they effectively sidelined him at the end of 2016 by removing him from any positions of control of the company he part-owned.
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