News Details
McLaren takes legal action in a bid to secure urgent funding
The McLaren Group has launched legal action in an effort to secure urgent funding to keep it from having to sell a stake in its Formula 1 team, reports the BBC. McLaren has hit financial difficulty as sales of its cars have plunged to an all-time low thanks to the coronavirus pandemic, whilst revenues from F1 are also set to fall as a result of fewer races. The automotive group attempted to raise additional funding by securing a loan against its heritage collection and Surrey factory, which could raise as much as £275 million. However a group of existing investors have blocked the move, claiming a bonds issue in 2017, which raised £600m, is already secured against these assets and...
Full Story »
Full Story »
5y ago from MotorsportWeek.com
0
You May Also Be Interested In...
McLaren to sell 'minority' stake in team
It is being reported that McLaren is considering selling a 'minority'...
5y ago from Pitpass.com
McLaren considering selling minority stake in F1 team
McLaren are considering selling a minority stake in their Formula 1 team...
5y ago from GrandPrix247.com
McLaren take legal action to try to secure 'urgent'...
McLaren takes legal action to allow it to secure "urgent"...
5y ago from BBC.co.uk
McLaren Racing considering selling stake to raise funds
McLaren Racing, which oversees the manufacture's involvement in F1 and in...
5y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Marc Marquez buries 10-year clash with Valentino...
No description available...
11h ago from Motorsport.com
Why Fabio Quartararo feels he needs to...
Fabio Quartararo is using the MotoGP winter break to recharge and...
12h ago from MotorsportWeek.c...
Fabio Quartararo rates his 2025 MotoGP campaign 5/10
No description available...
1d ago from Motorsport.com
MotoGP exploring options to return to China after...
MotoGP series promoter Dorna is reportedly considering a return to China...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
JHR retains Sting Ray Robb for second season
Juncos Hollinger Racing has confirmed that Sting Ray Robb will remain...
1d ago from MotorsportWeek.c...
Sting Ray Robb to continue with Juncos Racing for 2026...
No description available...
1d ago from Motorsport.com
Aggressive testing schedule planned ahead of Mick...
Following confirmation Mick Schumacher will make a switch to IndyCar next...
1w ago from MotorsportWeek.c...
Mick Schumacher joins RLL in IndyCar switch
Rahal Letterman Lanigan Racing has announced that Mick Schumacher will...
1w ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hyundai upgrading Rally2 car to “cover all bases”...
No description available...
9h ago from Motorsport.com
Why WRC drivers thought Rally Saudi Arabia was too...
No description available...
2d ago from Motorsport.com
Sebastien Ogier on matching Sebastien Loeb’s record...
No description available...
4d ago from Motorsport.com
Popular On GunnersToday.com
Merino and Saka down Brentford to restore Arsenal’s...
ight on from the chaos of Manchester City almost capitulating during <a...
3h ago from TheGuardian.com
Mikel Arteta opens up on double injury blow after...
Arsenal picked up a 2-0 win over Brentford in the Premier League earlier...
2h ago from CaughtOffside.com
Arsenal 2-0 Brentford, Leeds 3-1 Chelsea, and more:...
enal restored their five-point lead at the top of the table, while Leeds...
3h ago from TheGuardian.com
'Been way above the rest these last few games', 'Our...
Arsenal fans are in awe of Mikel Merino after the Spaniard's performance...
4h ago from SportsKeeda.com
Comments
Hottest News
Lewis Hamilton 2026 plans revealed by Sky Sports F1 insider
Lewis Hamilton is on the ropes after a disastrous... Read More »
4h ago from GPFans.com
What a prediction! Stunning Lando Norris prophecy emerges...
A crazy prediction involving McLaren title... Read More »
4h ago from GPFans.com
McLaren offer F1 lifeline to champion after confirming...
McLaren have handed an F1 lifeline to Italian... Read More »
4h ago from GPFans.com
