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McLaren consider selling minority stake – report
According to Sky News, McLaren Group are mulling over the option of selling a minority stake in their Formula 1 team in a bid to raise funds. McLaren's particular financial struggles throughout the extended hiatus due the global health crisis have been well documented over the last few months. McLaren Group reported a revenue loss of £175million in the first quarter of 2020 and are set to make 1,200 staff redundant as a cost-saving measure, with around 70 members of staff to leave the Formula 1 team. The company has also seen a £150m loan request rejected by the UK government whilst there was also a suggestion of them mortgaging their classic Formula 1 cars and factory. But now another...
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4y ago from PlanetF1.com
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