News Details
McLaren could mortgage factory and classic F1 cars
McLaren is considering mortgaging its factory and classic Formula 1 cars in an attempt to raise funds to see it through the financial uncertainty caused by the coronavirus crisis. Sky News reports that the British F1 team owner McLaren Group is in talks to raise up to £275m by mortgaging its iconic Surrey headquarters and one of the world’s most valuable historic car collections. The strategy is being pursued by McLaren and its advisor JP Morgan after it emerged the UK government’s Department for Business, Energy and Industrial Strategy had rejected a £150m loan plea. The supercar maker is looking to shore up its balance sheet after taking a financial hit due to a lack of sales and...
Full Story »
Full Story »
You May Also Be Interested In...
McLaren exploring funding options amidst financial...
McLaren is considering various funding options to help the sportscar...
5y ago from GrandPrix247.com
Horner on crisis: 'The right people need to take the...
Christian Horner expects that Formula 1 will come out of the current...
5y ago from GPBlog.com
MotoGP intends to kick off the season at the end of...
F1 Grand Prix, GP Spain, Circuit de Catalunya After long discussions...
5y ago from F1Technical.net
Daniel Ricciardo: First race after coronavirus break...
Renault's Daniel Ricciardo expects the first race of the season to be...
5y ago from BBC.co.uk
Elsewhere On The Network
Popular On MGPToday.com
Fabio Quartararo closes out Le Mans MotoGP practice on...
Yamaha's Fabio Quartararo closed out MotoGP practice at the top of the...
51m ago from MotorsportWeek.c...
Marc Marquez: 'It's not that the others are going...
No description available...
16h ago from Motorsport.com
Johann Zarco tops second MotoGP practice at Le Mans,...
Johann Zarco continued Honda's Friday dominance to top the second MotoGP...
19h ago from MotorsportWeek.c...
Pedro Acosta ‘barely makes it through’ to Q2 after...
No description available...
16h ago from Motorsport.com
Popular On IndyCarToday.com
Enzo Fittipaldi snags first Indy NXT win in Race 1 of...
No description available...
12h ago from Motorsport.com
IndyCar postpones IMS qualifying due to rain
The NTT IndyCar Series has postponed qualifying due to continuing...
11h ago from MotorsportWeek.c...
Rain washes out IndyCar qualifying at Indianapolis...
No description available...
11h ago from Motorsport.com
Second IndyCar practice at IMS headed up by Alex Palou
IndyCar took to the Indianapolis Motor Speedway road course for the...
15h ago from MotorsportWeek.c...
Popular On TotalWRC.com
WRC Portugal: Organisers investigate major stage...
No description available...
13h ago from Motorsport.com
WRC Portugal: Adrien Fourmaux off gives Sebastien...
No description available...
17h ago from Motorsport.com
Dani Sordo questions “stupid” WRC tyre rules amid...
No description available...
21h ago from Motorsport.com
WRC Portugal: Hyundai on top as overnight leader...
No description available...
22h ago from Motorsport.com
Popular On GunnersToday.com
Bayern rival Arsenal for signing of £70m Newcastle...
Bayern Munich are reportedly eyeing up a potential summer transfer window...
1h ago from CaughtOffside.com
Arsenal could try signing unsettled Kylian Mbappe if...
Arsenal have been tipped to change the course of their history if they win...
31m ago from CaughtOffside.com
Sources: Chelsea & other PL clubs eyeing...
Chelsea are understood to be on alert for the possible transfer of Arsenal...
1h ago from CaughtOffside.com
I can tell you what I won't be doing this evening...
Morning all. West Ham is tomorrow. I don't want to talk about West Ham...
1h ago from Arseblog.com
Comments
Hottest News
Aston Martin are in crisis but Alonso would never 'throw in...
Fernando Alonso may be struggling to get anything... Read More »
2h ago from GPFans.com
F1: F1's first quarter revenue up 53% on 2025
No matter how you take Stefano Domenicali's 'sold... Read More »
51m ago from Pitpass.com
Carlos Sainz 'open to' sensational McLaren F1 return
Carlos Sainz is considering making a shock return... Read More »
2h ago from GPFans.com
