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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...
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4y ago from PlanetF1.com
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