News Details
F1 granted amendment to $2.9bn loan to help weather crisis
Formula 1 has received an amendment to its term loan and credit facility to help the sport weather its current crisis until the end of 2021. The prospect of a massive drop in revenue due to the COVID-19 pandemic compelled F1 commercial rights holder Liberty Media to shore up F1's finances back in April, with the holding company reattributing $1.5 billion in net asset value to The Formula One Group. To offer the latter more financial breathing space as the pandemic crisis unfolds, Liberty Media has secured an amendment to the covenant governing F1's $2,9 billion term loan and its yet undrawn $500 million revolving credit facility. McLaren gets £150m lifeline from National Bank of Bahrain...
Full Story »
Full Story »
You May Also Be Interested In...
F1 secures $2.9b loan amendment to help with financial...
Formula 1 has been granted an amendment of the conditions on a $2.9b loan...
5y ago from GrandPrix247.com
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
Confirmed: McLaren to receive £150 m loan from...
UPDATE: McLaren have now confirmed that they will receive £150 million...
5y ago from GrandPrix247.com
McLaren in heavy weather: Lawsuit to get money started...
The McLaren Group is in heavy weather. The new Supercars were already...
5y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Should there be a tear-off rule following Marco...
No description available...
1d ago from Motorsport.com
Miguel Oliveira reveals what’s ‘more difficult’...
Miguel Oliveira says WorldSBK’s race weekend format is harder to adapt...
1d ago from MotorsportWeek.c...
MotoGP eliminates wildcard riders from 2027 season
No description available...
2d ago from Motorsport.com
How MotoGP’s energy drink landscape could shift
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
13h ago from MotorsportWeek.c...
Zanardi: The man whose name is a synonym for “hero”
No description available...
6h ago from Motorsport.com
Mick Schumacher shares injury update after breaking...
No description available...
2d ago from Motorsport.com
Dual-tone Chevy ZR1X pace car revealed for...
The NTT IndyCar Series has revealed the Chevrolet pace car for the...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
3d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
3d ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
3d ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
Player ratings: Arsenal 3-0 Fulham
Arsenal delivered an emphatic performance to deliver a big win at The...
2h ago from FreshArsenal.com
Watch: Fan angle of Bukayo Saka assist vs Fulham is...
Bukayo Saka returned to the Arsenal starting lineup with a point to prove,...
3h ago from CaughtOffside.com
'Arsenal have flipped the pressure on to Man City in...
Arsenal have "flipped the pressure" on to Man City in the...
4h ago from SkySports.com
Arsenal 3-0 Fulham: Premier League – as it happened
enal have opened a six-point lead over Manchester City in the title race...
4h ago from TheGuardian.com
Comments
Hottest News
2026 F1 Miami Grand Prix - Qualifying results
Check out the full results from qualifying ahead... Read More »
3h ago from RacingNews365.com
Lewis Hamilton delighted with Ferrari improvement in Miami
Lewis Hamilton came out of qualifying for the... Read More »
2h ago from GPFans.com
Miami Grand Prix Qualifying: Kimi Antonelli bounces back...
Mercedes' Kimi Antonelli bounced back in style in... Read More »
3h ago from GrandPrix247.com
