News Details
McLaren secures vital £150m loan from Bahrain's national bank
McLaren's short-term future has been secured after confirmation of a £150 million loan from the National Bank of Bahrain (NBB). The British supercar manufacturer and Formula 1 team has been hit hard by the coronavirus pandemic, with its automotive business posting a £133 million loss for the opening quarter of the year as a result of stalled car sales, and these losses are expected to deepen when it posts its latest results next month. As a result the McLaren Group has been seeking a vital and urgent injection of funding to allow it to continue trading. So desperate has the situation become that the company launched legal action in London's High Court after plans to raise funds against...
Full Story »
Full Story »
5y ago from MotorsportWeek.com
0
You May Also Be Interested In...
Report: McLaren to receive loan from National Bank of...
McLaren are on the verge of securing a loan from Bahrain's national bank...
5y ago from GrandPrix247.com
McLaren seeking loan from National Bank of Bahrain
We’ve discussed the current financial struggles at McLaren on our last...
5y ago from TheParcFerme.com
McLaren poised to secure loan from National Bank of...
McLaren is poised to secure a loan from the National Bank of Bahrain to...
5y ago from BBC.co.uk
McLaren in talks with Bahrain's national bank over...
The McLaren Group is in talks with the National Bank of Bahrain to secure...
5y ago from MotorsportWeek.com
Elsewhere On The Network
Popular On MGPToday.com
How Jorge Martin's first day back with Aprilia in...
No description available...
1h ago from Motorsport.com
Alex Marquez scrapes into Q2 at MotoGP Czech Grand...
No description available...
1h ago from Motorsport.com
Marc Marquez leads the way in second Brno MotoGP...
The complex interchangeable conditions sees Marc Marquez lead the field...
4h ago from MotorsportWeek.c...
MotoGP Czech GP: Francesco Bagnaia questions his...
No description available...
29m ago from Motorsport.com
Popular On IndyCarToday.com
Kyle Kirkwood says people should appreciate Alex...
No description available...
1d ago from Motorsport.com
Arrow McLaren's Nolan Siegel cleared to race in Toronto
No description available...
1d ago from Motorsport.com
Taylor Barnard rejected McLaren IndyCar and WEC offers...
Taylor Barnard has turned down the chance to race for Arrow McLaren in...
2d ago from MotorsportWeek.c...
IndyCar Iowa – Race 1 Results
The first race of IndyCar’s double-header weekend from Iowa Speedway...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Sensational Solberg leads Rally Estonia!
It may be just a one-off outing in Toyota Gazoo Racing’s GR Yaris...
59m ago from MotorsportWeek.c...
Oliver Solberg continues dream Rally1 return to extend...
No description available...
1h ago from Motorsport.com
Oliver Solberg stuns WRC field to lead Rally Estonia...
No description available...
8h ago from Motorsport.com
Popular On GunnersToday.com
'I'm somebody who goes with my gut feeling a lot' -...
New Arsenal signing Noni Madueke has explained that he's a player who...
49m ago from SportsKeeda.com
Arsenal sign Madueke from Chelsea for £52m
Arsenal have completed the signing of Noni Madueke from Chelsea in a deal...
2h ago from SkySports.com
Fabrizio Romano: Arsenal monitoring move for 70m Eze...
Chelsea and Arsenal are closely monitoring the future of Xavi Simons, with...
3h ago from FreshArsenal.com
Noni Madueke will be unfazed by new Arsenal challenge...
el Arteta’s latest signing from Chelsea is a driven individual,...
2h ago from TheGuardian.com
Comments
Hottest News
Guenther Steiner predicts Max Verstappen future: 'He's a...
Max Verstappen has been heavily linked to a shock... Read More »
1h ago from RacingNews365.com
F1 star admits 'frustration' over Mercedes contract failure
Williams F1 star Carlos Sainz has admitted... Read More »
2h ago from GPFans.com
Lewis Hamilton domination triggers 'conflict' at Ferrari
Former F1 team boss Guenther Steiner has claimed... Read More »
39m ago from GPFans.com
