McLaren CEO Cashes In with $50 Million After Formula 1 Win

Zak Brown, the Chief Executive Officer of McLaren Racing Limited, earned £37.3 million ($50.3 million) in the past year after the team’s first victory in the Formula One title since 1998, making him one of the highest-paid executives in the sports sector.

His compensation saw a sharp rise from £26.4 million the previous year, as indicated by documents filed with the UK registry Companies House. A representative from McLaren confirmed that Brown holds this position. The total compensation for key management more than doubled to £75.7 million, with a notable portion coming from share-based payments.

The 53-year-old’s organization is determined to replicate last year’s success by aiming for the team title once more, while also pursuing an individual championship with either Lando Norris or Oscar Piastri, both of whom are currently leading this season’s standings.

The previous year’s achievements significantly boosted the group’s revenue, which also manages an IndyCar team, leading to a 23% increase to £530.3 million. Pretax profit soared more than threefold to £37.5 million.

This surge follows McLaren’s valuation of over £3 billion in a recent stake sale, showcasing investor optimism in the sport. The owners of McLaren Group Limited — Bahrain’s sovereign wealth fund Mumtalakat and Abu Dhabi-based CYVN Holdings — gained full control of the racing team by acquiring shares from minority investors, including MSP Sports Capital.

Formula 1 has experienced a remarkable increase in popularity over the last few years, particularly in the US. Executives like Brown have recognized the impact of the Netflix documentary series Formula 1: Drive to Survive in attracting new audiences. The recent release of F1: The Movie, starring Brad Pitt, is expected to boost the sport’s appeal even more.

Since becoming CEO in 2018 during a tough period for the team, Brown has emerged as a key figure in the sport. He has often held disagreements with Christian Horner, his counterpart at Red Bull Racing, who was let go over the summer. Reports suggest that Horner received a significant payout upon his departure.

Currently, McLaren’s Australian driver Piastri is at the top of the championship standings, closely followed by his British teammate Norris. Red Bull’s four-time champion, Max Verstappen, is gaining traction in third place after winning the last two races.

McLaren has not secured the individual title since 2008, when Lewis Hamilton claimed his first championship.

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