News Details
McLaren secures vital £150m loan from Bahrain's national bank
McLaren's short-term future has been secured after confirmation of a £150 million loan from the National Bank of Bahrain (NBB). The British supercar manufacturer and Formula 1 team has been hit hard by the coronavirus pandemic, with its automotive business posting a £133 million loss for the opening quarter of the year as a result of stalled car sales, and these losses are expected to deepen when it posts its latest results next month. As a result the McLaren Group has been seeking a vital and urgent injection of funding to allow it to continue trading. So desperate has the situation become that the company launched legal action in London's High Court after plans to raise funds against...
Full Story »
Full Story »
5y ago from MotorsportWeek.com
0
You May Also Be Interested In...
Report: McLaren to receive loan from National Bank of...
McLaren are on the verge of securing a loan from Bahrain's national bank...
5y ago from GrandPrix247.com
McLaren seeking loan from National Bank of Bahrain
We’ve discussed the current financial struggles at McLaren on our last...
5y ago from TheParcFerme.com
McLaren poised to secure loan from National Bank of...
McLaren is poised to secure a loan from the National Bank of Bahrain to...
5y ago from BBC.co.uk
McLaren in talks with Bahrain's national bank over...
The McLaren Group is in talks with the National Bank of Bahrain to secure...
5y ago from MotorsportWeek.com
Elsewhere On The Network
Popular On MGPToday.com
Manufacturers stand up to Liberty in Jerez as MotoGP...
No description available...
2h ago from Motorsport.com
Aprilia runs 2027 MotoGP bike on track for first time...
No description available...
3h ago from Motorsport.com
Aprilia opens new development path in MotoGP with...
No description available...
5h ago from Motorsport.com
Ducati believes new MotoGP upgrades will help it...
Ducati believes its latest Jerez MotoGP test upgrades should help it take...
7h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Conor Daly paces Day 1 of Indy 500 Open Test
No description available...
21h ago from Motorsport.com
Rookies take on Indianapolis in open test, Newgarden...
No description available...
23h ago from Motorsport.com
All drivers clear Indy 500 Rookie Orientation...
IndyCar’s two-day test session for the Indianapolis 500 got underway...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
M-Sport weighs up WRC new car build as all options...
No description available...
4h ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
3h ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
8h ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
'No business starting', 'Threw the match away' -...
Atletico Madrid fans on X are fuming at Diego Simeone after he included...
42m ago from SportsKeeda.com
'What is this Arteta?', 'Arteta never learns' -...
Arsenal fans are furious with Mikel Arteta's decision to start Ben White...
42m ago from SportsKeeda.com
Liverpool and Chelsea join Arsenal in the chase for...
Liverpool and Chelsea are interested in signing the Norwegian midfielder...
1h ago from CaughtOffside.com
Atletico Madrid v Arsenal – live blog
Join us for live blog coverage of our Champions League semi-final clash...
53m ago from Arseblog.com
Comments
Hottest News
Aston Martin vibrations force Alonso and Stroll to visit...
Aston Martin F1 stars Fernando Alonso and Lance... Read More »
33m ago from GPFans.com
‘Super exited’ Herta counting down days to Barcelona F1...
Cadillac test driver Colton Herta is officially... Read More »
43m ago from F1i.com
Will Miami GP be cancelled? Lightning threat poses risk to...
A threat of lightning is being forecast for... Read More »
1h ago from GPFans.com
