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
MotoGP Jerez test: Aprilia 1-2-3 as new aero packages...
No description available...
16h ago from Motorsport.com
Ducati brings new swingarm and fairing to Jerez MotoGP...
No description available...
15h ago from Motorsport.com
Fermin Aldeguer set for further medical checks as...
No description available...
15h ago from Motorsport.com
Marco Bezzecchi leaves Jerez MotoGP ‘satisfied'...
Marco Bezzecchi felt he achieved the best possible result with second...
18h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Arrow McLaren has "no fear" in running all...
No description available...
15h ago from Motorsport.com
Katherine Legge confirmed for Indy 500 with AJ Foyt
AJ Foyt Racing has announced that it will field a third entry in this...
19h ago from MotorsportWeek.c...
Katherine Legge will make Indy 500 return in HMD...
No description available...
20h ago from Motorsport.com
IndyCar to limit entries to those holding a charter
The NTT IndyCar Series has confirmed that future races will be limited to...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
1d ago from Motorsport.com
Thierry Neuville: “Nobody knows” answer to...
No description available...
19h ago from Motorsport.com
Oliver Solberg crashes out of Rally Islas Canarias
Oliver Solberg and Elliot Edmondson have crashed out of Rally Islas...
1d ago from MotorsportWeek.c...
Sebastien Ogier dominates Rally Islas Canarias
Sebastien Ogier and Vincent Landais headed a Toyota one-two-three-four in...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arteta takes sigh of relief as new Kai Havertz injury...
Mikel Arteta’s side successfully managed to get a 1-0 victory over...
2h ago from CaughtOffside.com
Atletico Madrid vs Arsenal Prediction and Betting Tips...
Atletico Madrid and Arsenal will trade tackles in the highly anticipated...
2h ago from SportsKeeda.com
Fans left in the lurch as Burnley game looks set for...
Morning everyone. Let's start today with the rumour, which I have heard...
2h ago from Arseblog.com
Arsenal receive report about Kai Havertz injury before...
Arsenal attacker Kai Havertz will miss the first leg of their Champions...
13h ago from SportsKeeda.com
Comments
Hottest News
Kimi Antonelli says he wants to pick up in Miami from where...
Kimi Antonelli entered the Formula 1 April break... Read More »
55m ago from GrandPrix247.com
Szafnauer keeps door open to 12th F1 team bid
Apr.28 Fresh momentum behind a potential 12th... Read More »
45m ago from OneStopStrategy.com
Helmut Marko confirms F1 return after securing new role
Former Red Bull F1 legend Helmut Marko has... Read More »
1h ago from GPFans.com
