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McLaren could mortgage MTC and historic collection to raise funds

The McLaren Group is considering mortgaging its Woking headquarters as well as its historic cars collection to keep itself afloat amid the coronavirus crisis. The group which includes McLaren automotive business as well as its Formula 1 team is seeking to raise up to £275 million with its advisor, Wall Street financial institution JP Morgan, according to Sky News. McLaren initiated its quest for a cash influx after the company was denied a £150 million loan from the British government which it had sought to help it deal with a sudden drop in the sales of its range of supercars following the onslaught of the coronavirus pandemic. McLaren 'looking at racing in WEC and IMSA' - Brown But...
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