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McLaren poised to sell stake in deal worth £560m
McLaren are set to sell an initial 15 per cent stake in their Formula 1 team to a group of US investors, with the deal expected to be confirmed prior to the Abu Dhabi Grand Prix. McLaren's quest for additional funding has been no secret throughout the 2020 season, especially when the initial Formula 1 campaign was put on hold due to the global health pandemic which put financial strain on all teams. Back in May, McLaren Group announced they were going to cut 1,200 staff numbers from its operation (around 70 of which came from the Formula 1 team) and, soon after, also secured a £150million loan from National Bank of Bahrain after their initial approach to the UK government was rejected....
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5y ago from PlanetF1.com
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