News Details
Zak Brown: We're not a real estate company
McLaren will sell their state-of-the-art Formula One headquarters and lease it back long-term to raise cash and reduce the company's debt, the team's chief executive Zak Brown said on Saturday. The American told reporters in a Zoom call ahead of the Tuscan Grand Prix that it was a straightforward financial exercise. 'Why have all this money tied up in real estate? We're not a real estate company, we're a racing team and an automotive company,' he said of the Norman Foster-designed McLaren Technology Centre in Woking. 'We've got a lot of cash tied up in that building and that's not a very productive use of funds when you're looking to invest in your business.' The McLaren Group appointed...
Full Story »
Full Story »
4y ago from GrandPrix247.com
0
You May Also Be Interested In...
Brown: Racing Point lost their higher performing driver
McLaren CEO Zak Brown says it is 'unfortunate' that Sergio Perez has been...
4y ago from GrandPrix247.com
Brown: "Too bad, because he is the better driver...
CEO of McLaren Zak Brown says Sergio Perez's exit from Racing Point is...
4y ago from GPBlog.com
Brown: "Unfortunate, because of the two drivers...
CEO of McLaren Zak Brown says Sergio Perez's exit from Racing Point is...
4y ago from GPBlog.com
AlphaTauri was helped in Italy by the 'blonde American'
AlphaTauri was given a helping hand: "I call her the 'blonde...
4y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Morbidelli lost memory for two weeks after pre-season...
No description available...
7h ago from Motorsport.com
Why Marquez thinks double Misano win will be a long...
No description available...
7h ago from Motorsport.com
Francesco Bagnaia breaks Misano lap record to top...
Ducati’s Francesco Bagnaia set a new lap record on his first-time...
9h ago from MotorsportWeek.c...
Emilia Romagna MotoGP: Marquez leads Martin in...
No description available...
14h 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)...
7h ago from MotorsportWeek.c...
Meyer Shank Racing sign Marcus Armstrong for 2025...
Meyer Shank Racing has signed Marcus Armstrong to partner Felix...
8h ago from MotorsportWeek.c...
Rahal Letterman Lanigan investigated by the FBI: What...
No description available...
1d ago from Motorsport.com
2022 F2 champ Drugovich testing with Ganassi later...
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Inside the WRC’s search for its next Michele Mouton
No description available...
8h ago from Motorsport.com
WRC selects women’s driver development programme...
No description available...
2d ago from Motorsport.com
No pressure on Pajari after surprise Toyota Rally1...
No description available...
4d 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
Arsenal transfer news: Gunners demand 'astronomical'...
Arsenal defender Takehiro Tomiyasu is reportedly considering a move away...
1h ago from SportsMole.co.uk
‘We go there to win’: Mikel Arteta targets Arsenal...
t;li>‘We know we need a big performance to beat City’Riccardo...
2h ago from TheGuardian.com
'Not long-term convinced' – Mikel Arteta accused...
Troy Deeney has accused Mikel Arteta of misusing Arsenal defender Jurrien...
4h ago from CaughtOffside.com
David James predicts Chelsea, Manchester United and...
No description available...
5h ago from SportsKeeda.com
Comments
Hottest News
Breaking: FIA confirm decision on McLaren rear wing
The rear wing of McLaren's F1 car has been a hot... Read More »
12h ago from RacingNews365.com
Ricciardo reveals decision DEADLINE as star blasted for...
Daniel Ricciardo has revealed that he has been... Read More »
2h ago from GPFans.com
Sky F1 pundit caught in SWEARY broadcast blunder
Sky Sports F1 presenter Ted Kravitz was forced to... Read More »
3h ago from GPFans.com