News Details
McLaren poised to sell stake in deal worth £560m
McLaren are set to sell an initial 15 per cent stake in their Formula 1 team to a group of US investors, with the deal expected to be confirmed prior to the Abu Dhabi Grand Prix. McLaren's quest for additional funding has been no secret throughout the 2020 season, especially when the initial Formula 1 campaign was put on hold due to the global health pandemic which put financial strain on all teams. Back in May, McLaren Group announced they were going to cut 1,200 staff numbers from its operation (around 70 of which came from the Formula 1 team) and, soon after, also secured a £150million loan from National Bank of Bahrain after their initial approach to the UK government was rejected....
Full Story »
Full Story »
5y ago from PlanetF1.com
0
You May Also Be Interested In...
McLaren sell stake to US investment company
Abu Dhabi Grand Prix – McLaren are selling a big stake in their...
5y ago from FormulaSpy.com
US investors set to buy stake in McLaren F1 team
A consortium of US-based investors are set to acquire a 15 per cent...
5y ago from MotorsportWeek.com
McLaren set to sell big stake in F1 team to US...
McLaren are set to sell a big stake in their Formula 1 team to a US-based...
5y ago from GPBlog.com
McLaren reportedly selling minority stake in F1 team
McLaren are selling a minority stake in their Formula 1 team to a...
5y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Why Alex Marquez has been struggling in MotoGP this...
No description available...
46m ago from Motorsport.com
Construction moving forward at Buenos Aires for...
No description available...
17h ago from Motorsport.com
Ducati playing “catch-up” to Aprilia but insists...
No description available...
23h ago from Motorsport.com
Massimo Rivola: Aprilia has become the ‘benchmark’...
Massimo Rivola has admitted that Aprilia has become the current reference...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
1w ago from Motorsport.com
Fast-paced schedule proving beneficial for IndyCar’s...
The NTT IndyCar Series recently completed its fourth racing weekend in...
4d ago from MotorsportWeek.c...
Winners and losers from IndyCar at Barber Motorsports...
No description available...
5d ago from Motorsport.com
Pato O’Ward left searching for answers after...
No description available...
6d ago from Motorsport.com
Popular On TotalWRC.com
Storm damage forces changes to WRC Rally Islas...
No description available...
2d ago from Motorsport.com
Kalle Rovanpera returns to WRC with Subaru
Double WRC Champion Kalle Rovanpera is set to return to the WRC next year...
4d ago from MotorsportWeek.c...
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
1w ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Arsenal latest: Gunners wait on key injury news
No description available...
1h ago from SkySports.com
Fabrizio Romano says Arsenal transfer target has...
Arsenal fans may be interested to hear that Fabrizio Romano rates the...
2h ago from CaughtOffside.com
Time to rediscover Arsenal's right-hand reliance
Good morning all. Andrew is on his way to Lisbon this morning so I'm here...
2h ago from Arseblog.com
FA make decision on punishing Arsenal star Gabriel...
The FA are reportedly unlikely to sanction Arsenal attacker Gabriel...
2h ago from SportsKeeda.com
Comments
Hottest News
Adrian Newey snubbed star F1 driver because ‘he’s too...
Adrian Newey might be the ultimate F1... Read More »
1h ago from GPFans.com
Major McLaren upgrade reported as Mercedes put on red alert
Mercedes might have dominated the start of the... Read More »
1h ago from RacingNews365.com
Max Verstappen disagrees with Red Bull as team battles F1...
Max Verstappen is far from thrilled with the new... Read More »
56m ago from GPFans.com
