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
VR46 approached by Aprilia for 2027 but new Ducati...
No description available...
2h ago from Motorsport.com
Jerez hosts three days of private MotoGP testing with...
No description available...
22h ago from Motorsport.com
Aprilia boss on calming Marco Bezzecchi: ‘He’s...
No description available...
1d ago from Motorsport.com
Pedro Acosta leads MotoGP standings after opener –...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar reveals track design for Washington D.C. event
IndyCar has revealed the track design for the newly-added event in...
20h ago from MotorsportWeek.c...
Washington D.C. IndyCar track layout and event logo...
No description available...
21h ago from Motorsport.com
David Malukas’ Penske poise earns accolades from...
After just two races with Team Penske under his belt, David Malukas is...
22h ago from MotorsportWeek.c...
Pit stop mishap hinders Mick Schumacher in oval debut
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Hyundai's WRC upgrade plan to close the gap to Toyota
No description available...
21h ago from Motorsport.com
Why Hyundai WRC team is "working at 120 per...
No description available...
4d ago from Motorsport.com
Lando Norris samples Toyota rally car alongside Oliver...
No description available...
1w ago from Motorsport.com
Lancia rally legend Sandro Munari passes away aged 85
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
'It's a zoo' – Tottenham Hotspur star makes feelings...
Tottenham Hotspur forward Mathys Tel has expressed his dissatisfaction...
1h ago from SportsKeeda.com
Arsenal latest: Major injury boost with key trio back...
No description available...
30m ago from SkySports.com
Soon-to-be free agent midfielder could start transfer...
Borussia Dortmund midfielder Julian Brandt could be on the move this...
1h ago from CaughtOffside.com
Arsenal ready to sell attacker to Newcastle United
Arsenal could be open to selling Leandro Trossard during the upcoming...
5h ago from CaughtOffside.com
Comments
Hottest News
Aston Martin hit by new bombshell as insider reveals...
An Aston Martin F1 insider has dropped a new... Read More »
6h ago from GPFans.com
'That's not how you work in F1' - McLaren fume at Mercedes
McLaren F1 chief Andrea Stella has delivered an... Read More »
3h ago from GPFans.com
Vowles on Williams weight issue: ‘Not complicated to...
James Vowles has sounded a note of caution about... Read More »
3h ago from F1i.com
