Not even the historic Formula 1 teams or top vehicle manufacturing groups have been able to avoid the financial crisis caused by the coronavirus crisis.
In fact, in the case of some World Championship teams competing in the premier category, the drastic cut in advertising revenue due to the temporary cancellation of the competition has eroded their treasuries.
Among them, the McLaren Group is going through a period of severe turbulence that makes them fear for the sporting recovery of its team.
Thus, all the media deployment that led to its launch in 2019 could collapse in the face of a pressing lack of liquidity. So much so that the deadline of July 17 will be in dire need of a strong capital injection.
To alleviate this situation, they planned to mortgage the Surrey headquarters and several of its historic cars. However, a group of investors in the company has opposed this operation, stating that these assets have already been used in the purchase of the shares of Ron Dennis, former leader of McLaren.
The positions between the parties are so mixed that the dispute will be settled in the High Court of Justice of England.
However, according to the latest information, McLaren could receive a loan of 150 million euros from a Bahrain bank. If the agreement is finally signed, it would represent a vital oxygen balloon to strengthen McLaren’s sports and corporate projects.
Images of McLaren: McLaren F1