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UK government reject £150m loan request from McLaren
McLaren Group, owners of the McLaren Formula 1 team, has had a loan request of £150million rejected by the UK government. As first reported by Sky News, McLaren Group had turned to the UK government for financial support to help protect the company through these turbulent times during the global health crisis. McLaren were the first Formula 1 team to use the government's furlough scheme, while both Carlos Sainz and Lando Norris, plus senior management, have taken pay cuts as a protective measure. With no Formula 1 racing since December 2019 and none on the horizon until potentially the start of July, all teams are feeling the pinch. The estimated lost revenue with each postponed race is...
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5y ago from PlanetF1.com
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