News Details
McLaren in fantastic financial shape, Brown assures
McLaren Racing CEO Zak Brown made it clear that the Formula 1 team is doing great, both financially and in terms of on-track success. The onset of the global pandemic in early 2020 hit the wider McLaren Group hard, which announced a layoff of 25% of its workforce, while reports surfaced that the company were looking for loans to provide a cash injection, ultimately securing £150m from the National Bank of Bahrain. A minority stake in McLaren's F1 team was also sold to US consortium MSP Sport Capital in a deal worth £185m. In the following year the McLaren Technology Centre base was sold to Global Net Lease for £170million, with the facility then leased back to McLaren, while in the...
Full Story »
Full Story »
3y ago from PlanetF1.com
0
You May Also Be Interested In...
Gasly 2022 F1 "fantastic potential" lauded
AlphaTauri team principal Franz Tost has insisted Pierre Gasly still...
3y ago from GPFans.com
Williams get $35.7mn financial boost after legal battle
Williams have won a legal battle with their former title sponsor after it...
3y ago from Formula1News.co.uk
Brown: I'd be surprised if there was dominance in 2022
Zak Brown, CEO of McLaren, spoke of his expectations of the 2022 Formula...
3y ago from GrandPrix247.com
Brown: 'Dominance' by one team unlikely under 2022 regs
Zak Brown doubts one outfit will dominate the 2022 F1 season in the wake...
3y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Marc Marquez dominates to record fifth successive...
Marc Marquez made history for Ducati after dominating the Czech MotoGP...
43m ago from MotorsportWeek.c...
MotoGP Czech GP: Marc Marquez wins at Brno as title...
No description available...
33m ago from Motorsport.com
How three different problems plagued Ducati's Czech GP...
No description available...
19h ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar Toronto – Qualifying Results
A knockout qualifying session for the NTT IndyCar Series took place on...
17h ago from MotorsportWeek.c...
Colton Herta takes pole as he aims for IndyCar Toronto...
No description available...
14h ago from Motorsport.com
Colton Herta hauls in IndyCar pole in Toronto
IndyCar completed a busy qualifying session on the streets of Toronto...
17h ago from MotorsportWeek.c...
Andretti tops Team Penske in IndyCar’s second...
IndyCar took to the streets of Toronto on Saturday morning, turning...
22h ago from MotorsportWeek.c...
Popular On TotalWRC.com
Oliver Solberg stuns with maiden WRC victory in Estonia
Oliver Solberg and Elliot Edmondson stunned the WRC elite with a...
1h ago from MotorsportWeek.c...
WRC Rally Estonia: Oliver Solberg dominates in shock...
No description available...
2h ago from Motorsport.com
WRC: Oliver Solberg still leading after Saturday Rally...
No description available...
18h ago from Motorsport.com
SuperSwede Solberg in command on Rally Estonia
Oliver Solberg continued his domination of WRC Delfi Rally Estonia on...
18h ago from MotorsportWeek.c...
Popular On GunnersToday.com
Manchester United submit big offer to sign player keen...
Manchester United have reportedly overtaken Arsenal in the race to sign...
33m ago from SportsKeeda.com
Viktor Gyokeres' move to Arsenal at risk of collapse...
Arsenal's reported move for Sporting CP striker Viktor Gyokeres could...
1h ago from SportsKeeda.com
'I know you’re going to be incredible for us' -...
Arsenal midfielder Declan Rice has penned a welcome letter to new signing...
1h ago from SportsKeeda.com
Arsecast Extra Episode 649 – 20.07.2025
Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
2h ago from Arseblog.com
Comments
Hottest News
Marko: Verstappen ‘free to talk’, but bound until 2028
Amid growing speculation over Max Verstappen’s... Read More »
53m ago from F1i.com
Red Bull DENIED F1 emergency help
Red Bull have no lifeline to fall back on in... Read More »
3h ago from GPFans.com
Kimi? Andrea? Antonelli? How to tell when Toto Wolff is...
Toto Wolff doesn’t always smash a table if he's... Read More »
43m ago from GPFans.com
