McLaren have announced that Ron Dennis will be letting go of some of his control over the McLaren F1 team, with a company purchasing a 30% stake. DaimlerChrysler will still hold onto the majority with 40 %, whilst Dennis and TAG reduce their holdings to 15% each.

The buyer is Mumtalakat Holding Company, a company that is owned by the Kingdom of Bahrain.

Rumours of Ron Dennis selling up and getting out of the paddock have been circulating for months, with a lot of hype last year. Nothing came of those specific rumours, but he said at the time: "Any opportunity that presents itself to this group, that can make it better, and is completely supported by its management... I would embrace it."

The deal could take up to six weeks. Which is ages. Maybe there'll be more to say about it then.