F1 - Noticias

McLaren looking for funding, does not exclude the sale of F1 team shares

McLaren does not rule out the possibility of selling 30% of the shares of its Formula 1 team in order to finalize further funding and return to being a competitive team.

( palabras)
McLaren looking for funding, does not exclude the sale of F1 team shares
Fuente imagen: Hasan Bratic

As we know, the engines' environment has felt the weight of this pandemic on its shoulders. Formula 1 is among the sports that have experienced a major drop in revenue.

F1 racing teams have also faced budget losses and for this reason the FIA had announced F1 cost cuts that would help smaller troubled teams get through the crisis and get back on track for this 2020 season.

Among these mid-field teams there is also McLaren who sought additional funding to be able to bear the expenses that this sport entails.

Furthermore, there is talk of a sales plan which, according to what Sky News has revealed, could only involve the actions of McLaren Racing which includes the Indy and F1 teams.

As for the $145m budget cap that will be introduced in 2021, McLaren has shown itself to be favourable and hopes that this cost limit can help smaller teams to catch up with the stronger teams.


So the funding will allow the team to spend to the limit and be able to compete for higher places.

McLaren Racing and its parent company own the same shareholders, so the sale of part of the shares could lead to restructuring in the team.

The McLaren Group is 56% owned by the Mumtalakat Holding Company of Bahrain, 14% by Mansour Ojjeh, 10% by Michael Latifi and the remaining 20% is divided among the shareholders.

As for Michael Latifi's involvement in McLaren, at the moment, he is in doubt because the Iranian-Canadian businessman is linked to an investment with Williams and to a loan already agreed with the Grove team.

Most likely the sale revolves around 20% and 30% of the shares of the Formula 1 team.

In addition, the McLaren Group announced last month that there will be staff cuts that could be reduced to 70.

Artículos relacionados


Subscribite ahora a nuestra lista de noticias diarias y te avisemos cada vez que una nota nueva salga.