News Details
Lloyds sell Marussia stake
Lloyds Banking Group has sold its 25.3 per cent stake in the Marussia Formula One team.
The decision to sell comes after Formula One not only failed to perform on the track but also made huge financial losses.
According to the Daily Telegraph, the backmarker outfit, who has yet to get off the mark in F1, made a "net loss of £46.3m on revenue which dropped 5pc to £28.6m" in the year ending December 31 2011.
As such Lloyds Development Capital (LDC), the private equity division of the bank, sold their shares in the team.
A spokesman told the British newspaper: "LDC has sold its minority shareholding in the Marussia F1 team to Marussia.
"While the details will...
Full Story »
Full Story »
12y ago from PlanetF1.com
0
You May Also Be Interested In...
Lloyds sells stake in Marussia
Lloyds Development Capital (LDC) has sold its 25.3% stake in Marussia...
12y ago from espnF1.com
British bank sells Marussia team shares
22 April, 2013 Lloyds, the quasi-government owned British bank, has sold...
12y ago from YallaF1.com
Marussia shares sold following hefty loss
Lloyds Banking Group has sold its shares in Marussia F1 Team, amounting...
12y ago from RichlandF1.com
Elsewhere On The Network
Popular On MGPToday.com
Toprak Razgatlioglu admits MotoGP adaptation...
Toprak Razgatlioglu has admitted that his adaptation to MotoGP feels...
4h ago from MotorsportWeek.c...
2027 MotoGP bikes may not be slower at half the...
No description available...
5h ago from Motorsport.com
VR46 approached by Aprilia for 2027 but new Ducati...
No description available...
1d ago from Motorsport.com
Jerez hosts three days of private MotoGP testing with...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
Conor Daly snags Indy 500 ride with Dreyer and Reinbold
Dreyer and Reinbold Racing has announced that Conor Daly will drive for...
38m ago from MotorsportWeek.c...
Conor Daly set for Indy 500 run with Dreyer & Reinbold...
No description available...
38m ago from Motorsport.com
Winners and losers from an action-packed IndyCar race...
No description available...
22h ago from Motorsport.com
IndyCar reveals track design for Washington D.C. event
IndyCar has revealed the track design for the newly-added event in...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hankook introduces new WRC tyre at Safari Rally Kenya
No description available...
58m ago from Motorsport.com
Toyota tips Hyundai to fight back in WRC 2026
No description available...
23h ago from Motorsport.com
Hyundai's WRC upgrade plan to close the gap to Toyota
No description available...
1d ago from Motorsport.com
Why Hyundai WRC team is "working at 120 per...
No description available...
5d ago from Motorsport.com
Popular On GunnersToday.com
Bid prepared: Arsenal considering move for contract...
Arsenal are reportedly considering a summer transfer window move for...
2h ago from CaughtOffside.com
Arsenal consider making bid to sign Chelsea academy...
Arsenal are reportedly considering a move for former Chelsea full-back...
8m ago from SportsKeeda.com
'He's out' – Arteta confirms key Arsenal star...
Arsenal’s quest for a maiden European crown faces a significant hurdle...
5h ago from CaughtOffside.com
U-turn: Report reveals surprise outcome of recent...
Arsenal may reportedly have cooled their interest in the potential...
8h ago from CaughtOffside.com
Comments
Hottest News
Toto Wolff responds to McLaren's Mercedes complaint and...
Toto Wolff has hit back at its F1 rivals who rely... Read More »
6h ago from GPFans.com
Wolff shuts down rumors of Mercedes works team’s PU edge
Toto Wolff has firmly rejected suggestions that... Read More »
48m ago from F1i.com
The 2026 Formula 1 cars are not pure, rawness of racing is...
The more we speak about the new Formula 1 cars,... Read More »
1h ago from GrandPrix247.com
