News Details
McLaren taking legal action to secure ‘urgent' funds
McLaren is seeking a High Court declaration that will allow the company to use its factory and historic car collection as security for a new loan. Creditors claim those items are already down as collateral. Formula 1's extended hiatus, the result of the ongoing pandemic, has plunged several Formula 1 teams into financial trouble. McLaren is one of those. Days after it emerged that the British company is looking to sell a stake in its Formula 1 team, McLaren has taken legal steps to use its factory and car collection as security for a new loan. Stating it needs 'urgent' refinancing to address 'severe and unexpected financial' difficulties, McLaren is seeking a High Court order that would...
Full Story »
Full Story »
5y ago from PlanetF1.com
0
You May Also Be Interested In...
F1 teams to use tracing app for 2020 season
Formula 1 teams will be required to use a contact tracing app to limit...
5y ago from GrandPrix247.com
McLaren run F3 cars at Silverstone
While Racing Point has driven its 2020 car and Mercedes has taken its 2018...
5y ago from TheParcFerme.com
Sky seeking significant refund from F1
As it is revealed that Sky Sports has agreed a £170m rebate from the...
5y ago from Pitpass.com
Formula 1 is in no hurry to allow fans: "Would...
Ross Brawn has let it be known that Formula 1 is quietly looking at...
5y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Andrea Dovizioso: “Marc Marquez’s situation is...
No description available...
19h ago from Motorsport.com
Maverick Vinales undergoes shoulder surgery to remove...
No description available...
1d ago from Motorsport.com
Why Toprak Razgatlioglu isn’t satisfied with his...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Fast-paced schedule proving beneficial for IndyCar’s...
The NTT IndyCar Series recently completed its fourth racing weekend in...
1d ago from MotorsportWeek.c...
Winners and losers from IndyCar at Barber Motorsports...
No description available...
2d ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
4d ago from Motorsport.com
Pato O’Ward left searching for answers after...
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
Kalle Rovanpera returns to WRC with Subaru
Double WRC Champion Kalle Rovanpera is set to return to the WRC next year...
1d ago from MotorsportWeek.c...
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
4d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
1w ago from Motorsport.com
How Toyota’s new flying Finn is starting to make WRC...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Sandro Tonali offers himself to European giants amid...
Newcastle United midfielder Sandro Tonali has reportedly been offered to...
8h ago from SportsKeeda.com
Liverpool eye defensive rebuild with move for 50m...
Arsenal and Liverpool are interested in signing the Atalanta defender...
9h ago from CaughtOffside.com
Arsenal weighing bold move for 'elite-level finisher'...
Arsenal are interested in signing the Real Madrid striker Gonzalo Garcia...
9h ago from CaughtOffside.com
Former Arsenal star William Gallas boldly claims...
William Gallas doesn't believe Arsenal will win a treble this season. He...
13h ago from SportsKeeda.com
Comments
Hottest News
Williams sack James Vowles, sign Christian Horner and...
As many expected, James Vowles has been given his... Read More »
1d ago from GrandPrix247.com
2026 F1 car weights revealed as Lance Stroll lands new race...
Catch up on the biggest news stories of the day... Read More »
8h ago from RacingNews365.com
Ferrari said no to the Lionel Messi of F1
One of Ferrari's F1 rivals are currently reaping... Read More »
10h ago from GPFans.com
