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...
3y 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...
4y 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...
4y ago from F1Technical.net
Daniel Ricciardo: First race after coronavirus break...
Renault's Daniel Ricciardo expects the first race of the season to be...
4y ago from BBC.co.uk
Elsewhere On The Network
Popular On MGPToday.com
Marquez ¡still missing something’ to fight for 2024...
No description available...
14h ago from Motorsport.com
Marquez ‘completely exhausted' when he caught...
Marc Marquez was left feeling 'completely exhausted' by the time he caught...
14h ago from MotorsportWeek.c...
Marquez ‘got the better of me' at Le Mans, says...
Reigning MotoGP World Champion Francesco Bagnaia admitted he was missing a...
18h ago from MotorsportWeek.c...
Martin has nothing left to prove to Ducati after Le...
Jorge Martin boldly claimed 'I don't think I have anything to demonstrate'...
16h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Abel ends Indy 500 entry hopes, cites funding as cause
Abel Motorsports will not be fielding a car in this year’s Indianapolis...
1w ago from MotorsportWeek.c...
American flag livery returns for AJ Foyt Indy 500 entry
AJ Foyt Racing announced Wednesday that it is bringing its popular...
1w ago from MotorsportWeek.c...
Juncos reveals special ‘Phoenix’ and ‘Titan’...
Juncos Hollinger Racing has revealed special ‘Phoenix’ and ‘Titan’...
10h ago from MotorsportWeek.c...
Juncos Hollinger Racing reveals special liveries for...
No description available...
12h ago from Motorsport.com
Popular On TotalWRC.com
Tanak not far from “being in the fight” after...
No description available...
14h ago from Motorsport.com
Neuville stunned by almost “impossible” result in...
No description available...
1d ago from Motorsport.com
Ogier: Surpassing Markku Alen’s WRC Portugal record...
No description available...
1d ago from Motorsport.com
Sebastian Ogier sets another new record with his 6th...
Sebastian Ogier and Vincent Landais reeled off the remaining four stages...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
'He's not going to become a Haaland or Aguero' -...
No description available...
7h ago from SportsKeeda.com
“Whatever you need, just give me a shout” - Kai...
No description available...
7h ago from SportsKeeda.com
“He needs a bit of help” - Peter Schmeichel makes...
No description available...
9h ago from SportsKeeda.com
Comments
Hottest News
F1 News Today: Hamilton understudy IMPRESSES team in test...
Ford will partner up with Red Bull to work on... Read More »
40m ago from GPFans.com
Verstappen expected to stay at Red Bull: 'Why leave?'
It is the will he-won't he saga to end them all.... Read More »
1h ago from RacingNews365.com
Rosberg: Mercedes must wait on Hamilton replacement...
Sky Sports F1's Nico Rosberg believes Mercedes... Read More »
30m ago from SkySports.com