British automotive magnate and principal of McLaren’s Formula One team for all the years that really matter, Ron Dennis, has cut his remaining ties with the company he is so synonymous with.

Having helped lead the F1 team to victory since the 1980s with legendary drivers like Niki Lauda, Alain Prost, Ayrton Senna, Mika Häkkinen, and Lewis Hamilton — while also serving as CEO, chairman, and founder of McLaren Technology Group — it was almost unfathomable to see him removed from his position as head of the company last year. However, we assumed he’d be sticking around on the board for a while.

That hasn’t turned out to be the case. Dennis is selling his remaining stock to Mumtalakat, the Bahrain sovereign investment group, and the French-Saudi entrepreneur Mansour Ojjeh for an estimated £275 million ($362 million).  (Read More…)