News Details
McLaren's £200million investment covered Honda breakup costs
McLaren used Michael Latifi's £200million investment to cover the costs of the split from Honda last season. Honda had been paying an incredibly high amount of money towards the team's budget, including the contract of Fernando Alonso. McLaren Group’s chief financial officer Paul Buddin said in an investors call that the costs of the split were soaked up using the fresh investment from the Nidala group, owned by F2 driver Nicolas Latifi's father. “The reason we went for that equity was that we recognised our decision, for performance reasons, to take the Honda engine out of the Formula 1 car, would have a significant impact on our cash flows within Formula 1,” said...
Full Story »
Full Story »
7y ago from GPBlog.com
0
You May Also Be Interested In...
Gasly points finger at Alonso: He hates us because of...
Pierre Gasly accused Fernando Alonso of mistreating Toro Rosso drivers...
7y ago from GPFans.com
Alonso doesn’t like our team because we use Honda PU...
Yet another driver has hit out at retiring F1 driver Fernando Alonso....
7y ago from ThisIsF1.com
Alonso: Reliability seems to have made a step backwards
Fernando Alonso had a dismal final Italian Grand Prix, it only lasted...
7y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Is Alex Marquez’s Jerez MotoGP breakthrough real or...
No description available...
14h ago from Motorsport.com
Should there be a tear-off rule following Marco...
No description available...
2d ago from Motorsport.com
Miguel Oliveira reveals what’s ‘more difficult’...
Miguel Oliveira says WorldSBK’s race weekend format is harder to adapt...
2d ago from MotorsportWeek.c...
MotoGP eliminates wildcard riders from 2027 season
No description available...
3d ago from Motorsport.com
Popular On IndyCarToday.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
1d ago from MotorsportWeek.c...
Mick Schumacher shares injury update after breaking...
No description available...
3d ago from Motorsport.com
Zanardi: The man whose name is a synonym for “hero”
No description available...
1d ago from Motorsport.com
Dual-tone Chevy ZR1X pace car revealed for...
The NTT IndyCar Series has revealed the Chevrolet pace car for the...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
M-Sport weighs up WRC new car build as all options...
No description available...
4d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
4d ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
4d ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
'He’s kind of solved that problem for us' - Ian...
Arsenal legend Ian Wright has heaped praise on Viktor Gyokeres after the...
5h ago from SportsKeeda.com
'He gave you that energy, he lifted everybody' - Paul...
Paul Merson has urged Mikel Arteta to start Myles Lewis-Skelly in...
5h ago from SportsKeeda.com
Fit and firing Bukayo Saka injects fresh belief into...
astating cameo highlighted the crucial role the winger has to play if...
9h ago from TheGuardian.com
‘Might leave..' – Ex-player names Arsenal...
As the season approaches its dramatic conclusion this May, the tension...
13h ago from CaughtOffside.com
Comments
Hottest News
Ferrari suffer more Miami Grand Prix pain as F1 star hit...
Charles Leclerc is under investigation by FIA... Read More »
5h ago from GPFans.com
F1: Miami Grand Prix: Result (Amended)
Result of the Crypto.com Miami Grand Prix. Read More »
2h ago from Pitpass.com
Leclerc handed staggering punishment as Verstappen survives...
Charles Leclerc received a massive post-race... Read More »
1h ago from RacingNews365.com
