The supercar we've all been waiting for is here - the next McLaren F1

For 25 years, the McLaren F1 has been one of the most expensive and sought after cars in the world.

With examples selling for as much as $14 million at auction, the 240-mph, three-seat supercar is an automotive icon.

In the years since the F1 went out of production in the late 90s, McLaren has released a series of supercars varying levels of success.

In 2013, McLaren even rolled out the P1 - a $1 million hybrid hypercar.

But it wasn't a true successor to the original because it lacked one of the F1's most recognizable features - a three-seat cabin with the driver in the middle.

Now, that's all about the change. On Wednesday, McLaren confirmed the existence of a new three-seat hypercar - codenamed BP23.

According to McLaren, "BP23" stands of "Bespoke Project 2" and a car with 3 seats. But the key word here is Bespoke. That's because instead of being produced by the McLaren Automotive's main production team, the BP23 will be made by MSO, the company's custom vehicles team.

Like its F1 forefather, only 106 BP23s will be produced. And like the F1, all 106 cars have been sold. In the case of the BP23, the cars - each with an estimated price tag of at least $2 million - were purchased sight unseen.

Earlier this year, rumors of a potential three-seat McLaren hypercar made its way through the automotive universe. Even though McLaren won't confirm whether the BP23 emerged from those rumors, it did help McLaren sellout its whole production run in recent months.

In a statement to the public announcing the BP23, McLaren Automotive CEO Mike Flewitt wrote:

"BP23 will borrow the three seat layout with central driving position made famous by the iconic McLaren F1, and it will be housed in a streamlined, shrink-wrapped carbon fiber body of great elegance. We are calling BP23 a 'Hyper-GT' because it's a car designed for longer journeys but with the high levels of performance and driver engagement expected of any McLaren. A hybrid powertrain will make it one of the most powerful McLarens yet created but the car will also deliver the highest levels of refinement, enabling significant journeys to be undertaken with up to three people aboard."

Stay-tuned. There's more to come on McLaren's new BP23.