News Details
McLaren in fantastic financial shape, Brown assures
McLaren Racing CEO Zak Brown made it clear that the Formula 1 team is doing great, both financially and in terms of on-track success. The onset of the global pandemic in early 2020 hit the wider McLaren Group hard, which announced a layoff of 25% of its workforce, while reports surfaced that the company were looking for loans to provide a cash injection, ultimately securing £150m from the National Bank of Bahrain. A minority stake in McLaren's F1 team was also sold to US consortium MSP Sport Capital in a deal worth £185m. In the following year the McLaren Technology Centre base was sold to Global Net Lease for £170million, with the facility then leased back to McLaren, while in the...
Full Story »
Full Story »
4y ago from PlanetF1.com
0
You May Also Be Interested In...
Gasly 2022 F1 "fantastic potential" lauded
AlphaTauri team principal Franz Tost has insisted Pierre Gasly still...
4y ago from GPFans.com
Williams get $35.7mn financial boost after legal battle
Williams have won a legal battle with their former title sponsor after it...
4y ago from Formula1News.co.uk
Brown: I'd be surprised if there was dominance in 2022
Zak Brown, CEO of McLaren, spoke of his expectations of the 2022 Formula...
4y ago from GrandPrix247.com
Brown: 'Dominance' by one team unlikely under 2022 regs
Zak Brown doubts one outfit will dominate the 2022 F1 season in the wake...
4y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Toprak Razgatlioglu: I may fail to get my first MotoGP...
No description available...
8h ago from Motorsport.com
Rival MotoGP teams offering "a lot of money"...
No description available...
12h ago from Motorsport.com
Marc Marquez admits ‘my body will force me to retire...
No description available...
1d ago from Motorsport.com
Ducati anticipates ‘2024 version’ of Francesco...
Ducati Team Manager Davide Tardozzi is “very confident” Francesco...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Long Beach to bring in new leadership for iconic event
Organizers of the annual Grand Prix of Long Beach event have announced...
3d ago from MotorsportWeek.c...
Grand Prix of Long Beach set for leadership change
No description available...
3d ago from Motorsport.com
Pato O’Ward joined by F2 champion in McLaren F1...
McLaren has announced its driver development program lineup for 2026,...
3d ago from MotorsportWeek.c...
Kucharczyk set for 2026 Indy NXT run with HMD
No description available...
4d ago from Motorsport.com
Popular On TotalWRC.com
Sebastien Loeb after 13 Dakar punctures: Cars now...
No description available...
14h ago from Motorsport.com
Nani Roma: Dakar 2026 at 'F1 level' after close fight
No description available...
1d ago from Motorsport.com
Dakar 2026: Dacia edges Ford and Toyota as Nasser...
No description available...
1d ago from Motorsport.com
Luciano Benavides defeats Ricky Brabec by two seconds...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
‘Agreement in place’ – Fabrizio Romano drops...
Oleksandr Zinchenko is set to leave Arsenal, with Ajax agreeing a deal to...
2h ago from CaughtOffside.com
Mikel Arteta provides worrying update on key Arsenal...
Arsenal manager Mikel Arteta has revealed that Bukayo Saka is dealing with...
7h ago from SportsKeeda.com
Arsenal latest: 'Ajax close to signing Zinchenko on...
No description available...
7h ago from SkySports.com
'I saw it live, I saw it here. I saw it now again' -...
Arsenal manager Mikel Arteta believes his side were denied a clear penalty...
12h ago from SportsKeeda.com
Comments
Hottest News
Ferrari tipped for 'disaster' as Lewis Hamilton and Charles...
Ferrari have been tipped to be the team heading... Read More »
5h ago from GPFans.com
F1 fans go wild for Oscar Piastri's 'absolutely diabolical'...
McLaren star Oscar Piastri has sent fans wild... Read More »
3h ago from GPFans.com
F1 driver admits he hasn't watched the F1 movie despite...
A star of the F1 movie who also competed on the... Read More »
3h ago from GPFans.com
