News Details
McLaren takes legal action in a bid to secure urgent funding
The McLaren Group has launched legal action in an effort to secure urgent funding to keep it from having to sell a stake in its Formula 1 team, reports the BBC. McLaren has hit financial difficulty as sales of its cars have plunged to an all-time low thanks to the coronavirus pandemic, whilst revenues from F1 are also set to fall as a result of fewer races. The automotive group attempted to raise additional funding by securing a loan against its heritage collection and Surrey factory, which could raise as much as £275 million. However a group of existing investors have blocked the move, claiming a bonds issue in 2017, which raised £600m, is already secured against these assets and...
Full Story »
Full Story »
4y ago from MotorsportWeek.com
0
You May Also Be Interested In...
McLaren to sell 'minority' stake in team
It is being reported that McLaren is considering selling a 'minority'...
4y ago from Pitpass.com
McLaren considering selling minority stake in F1 team
McLaren are considering selling a minority stake in their Formula 1 team...
4y ago from GrandPrix247.com
McLaren take legal action to try to secure 'urgent'...
McLaren takes legal action to allow it to secure "urgent"...
4y ago from BBC.co.uk
McLaren Racing considering selling stake to raise funds
McLaren Racing, which oversees the manufacture's involvement in F1 and in...
4y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Bastianini defends controversial Misano winning move...
No description available...
2h ago from Motorsport.com
Martin: Bastianini’s Misano move “bit too much”,...
No description available...
3h ago from Motorsport.com
Enea Bastianini wins controversial Misano MotoGP race...
Enea Bastianini earned Ducati their 100th MotoGP win after a...
5h ago from MotorsportWeek.c...
Marquez: Double Misano win will be a long shot despite...
No description available...
4h ago from Motorsport.com
Popular On IndyCarToday.com
FBI descend on Rahal Letterman Lanigan Racing base
According to multiple reports, the Federal Bureau of Investigation (FBI)...
2d ago from MotorsportWeek.c...
Felipe Drugovich granted IndyCar test with Chip...
2022 FIA Formula 2 World Champion Felipe Drugovich has landed an NTT...
1d ago from MotorsportWeek.c...
Rahal Letterman Lanigan investigated by the FBI: What...
No description available...
3d ago from Motorsport.com
2022 F2 champ Drugovich testing with Ganassi later...
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
Inside the WRC’s search for its next Michele Mouton
No description available...
2d ago from Motorsport.com
No pressure on Pajari after surprise Toyota Rally1...
No description available...
6d ago from Motorsport.com
WRC selects women’s driver development programme...
No description available...
3d ago from Motorsport.com
Latvala: Toyota needs three full-time WRC drivers in...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Video: Mikel Arteta's wild reaction says it all after...
Mikel Arteta literally pulled the wool over his eyes after he saw his side...
41m ago from CaughtOffside.com
Video: Erling Haaland equals Cristiano Ronaldo record...
Erling Haaland has grabbed his 100th goal for Manchester City after easily...
1h ago from CaughtOffside.com
'He has been poor and wasteful every game', 'It's...
No description available...
1h ago from SportsKeeda.com
Man City injury blow: Rodri forced off with knee...
Manchester City midfielder Rodri is forced off with an apparent knee...
1h ago from SportsMole.co.uk
Comments
Hottest News
Red Bull: McLaren pace in F1 Singapore GP was ‘taking...
Red Bull boss Christian Horner has expressed... Read More »
51m ago from MotorsportWeek.com
Hamilton and Russell taken ill after Singapore GP
A physically tough Singapore Grand Prix took its... Read More »
2h ago from RacingNews365.com
‘Verstappen WON’T win another race’- Singapore Grand...
Whilst the Singapore Grand Prix may have been a... Read More »
1h ago from GPFans.com