News Details
Fall in prize money puts McLaren in the red
McLaren's lackluster 2015 season - its first with engine partner Honda - negatively impacted the team's 2016 revenue according to financial results filed this week. McLaren suffered a post-tax loss of £3.2m in 2016 year on turnover of £180m, a result which reflects reduced prize money associated with its performance in the previous season in which it finished only ninth in the Constructors' standings. Last year, McLaren spent £23.7m in car development, an increase of £4.6m over 2015 partly justified by its investment in the design of new-spec 2017 challenger. McLaren's Brown: 'F1 budget cap inevitable' "On track our chassis has shown excellent results throughout the 2017 season...
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