McLaren has had a fantastic season so far and is in a great third place in the battle for the constructors’ championship. The battle with Ferrari this season is tough and far from over, but at the moment everything speaks for Lando Norris, Zak Brown and his team.
In addition, McLaren will receive a large injection of capital. The McLaren Group, the parent company of McLaren F1, will receive an amount of 550 million British pounds (643 million euros), thus the future of the company is secured for the time being.
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Most of the money (£ 400 million) comes from a Saudi Arabia Public Investment Fund (PIF) and current investors who have also got involved. These were converted into shares for Ares Management and PIF. There are also some new “private investors”, as McLaren calls them, who are also adding £ 150m to the £ 643m total. This allows McLaren to partially repay its loan that is open with the National Bank of Bahrain. This was closed last year after the company’s financial problems due to the Corona crisis.
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Wolff: “We halved the gap to Red Bull in terms of performance”
Paul Walsh is happy with the investment
Logical, because the existence of the McLaren Group is secured again for some time and can begin to partially pay off its loan.
“Due to the short-term measures that we took last summer to deal with the Corona crisis, McLaren has now taken a number of important steps to put the company in calm waters in the long term. This was done with the support of advisors and current shareholders. After the strategic investment in the company’s racing division, this is another step in the financial strategy to keep the McLaren Group growing. “
McLaren is hoping for third place in the championship, which in turn brings in a lot of money. Especially since an important phase is imminent and Formula 1 will make many changes.
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