Motorsport Week
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

McLaren looking to raise £275m by mortgaging classic cars and factory

by Ryan Wood
5 years ago
A A
0
McLaren looking to raise £275m by mortgaging classic cars and factory
Share on FacebookShare on Twitter

The McLaren Group is reportedly looking to raise up to £275 million ($335m) by mortgaging its classic car collection and impressive Surrey factory complex.

The Formula 1 team and sportscar manufacturer has seen its income drop significantly during the coronavirus pandemic, with the F1 season a non-starter and sales of its cars plummeting.

A request for a government-backed loan of £150m ($183m) was reportedly rejected and therefore the business is having to seek alternative ways of raising capital in order for it to survive the pandemic.

According to Sky News, McLaren and its financial advisers, namely JP Morgan, are looking at plans to borrow money against its factory in Woking, which is valued at £200m, and its classic car collection.

RelatedPosts

Fernando Alonso feels the Silverstone upgrades had less impact than the Imola package on the AMR25

Why Aston Martin’s F1 upgrades came up short at British GP

21 minutes ago
Tim Mayer (USA) FIA Forward announces his running for FIA Presidency at a Media Briefing at Whittlebury Hall. 04.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Practice Day

FIA presidential candidate challenged over ‘deeply unfair’ and ‘inaccurate’ remarks

2 hours ago

With the collection including several rare examples such as the McLaren F1, which is valued at tens of millions, plus F1 cars driven by the likes of Niki Lauda, Ayrton Senna, Mika Hakkinen and Lewis Hamilton, its total value is believed to be between £200-250m.

“Like many other British businesses McLaren has been severely affected by the current pandemic and we are therefore exploring a variety of different funding options to help navigate these short-term business interruptions,” a spokesperson said.

McLaren’s various businesses employ more than 4,000 people in the UK and it is a major investor in research and development via its applied technologies department, which helped to co-develop a respirator for the NHS.

Most of those employees have been placed on furlough – a government scheme which pays 80 per cent of their wages to help businesses get through the current situation.

In March the company’s shareholders – led by Bahrain’s sovereign wealth fund Mumtalakat and Saudi Arabian businessman Mansour Ojjeh – injected £300m of equity into McLaren.

Tags: F1McLarenF1
Share431Tweet126Share

Related Posts

Fernando Alonso feels the Silverstone upgrades had less impact than the Imola package on the AMR25
Formula 1

Why Aston Martin’s F1 upgrades came up short at British GP

21 minutes ago
Tim Mayer (USA) FIA Forward announces his running for FIA Presidency at a Media Briefing at Whittlebury Hall. 04.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Practice Day
Formula 1

FIA presidential candidate challenged over ‘deeply unfair’ and ‘inaccurate’ remarks

2 hours ago
The start of the first race of the Iowa double-header. Photo: Kevin Dejewski
IndyCar

IndyCar Mid-Ohio – Race 1 Results

8 hours ago
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Upcoming Races

#EventDate
13Belgian GP25-27 July
14Hungarian GP01-03 August
15Dutch GP29-31 August
16Italian GP05-07 September
17Azerbaijan GP19-21 September

Click here for the full 2025 F1 calendar

Drivers’  Standings

#DriverPts
Oscar Piastri234
Lando Norris226
Max Verstappen165
George Russell147
Charles Leclerc120
Lewis Hamilton103
Andrea Kimi Antonelli63
Alexander Albon44
Nico Hulkenberg37
Isack Hadjar28

Click here for full Drivers’ Standings

Latest Articles

Fernando Alonso feels the Silverstone upgrades had less impact than the Imola package on the AMR25
Formula 1

Why Aston Martin’s F1 upgrades came up short at British GP

July 13, 2025
Tim Mayer (USA) FIA Forward announces his running for FIA Presidency at a Media Briefing at Whittlebury Hall. 04.07.2025. Formula 1 World Championship, Rd 12, British Grand Prix, Silverstone, England, Practice Day
Formula 1

FIA presidential candidate challenged over ‘deeply unfair’ and ‘inaccurate’ remarks

July 13, 2025
Apple could land the US TV rights to F1
Formula 1

Apple enters F1 US broadcast rights battle after movie success

July 12, 2025

Follow Motorsport Week

Join our daily motorsport newsletter

* indicates required

Motorsport Week

© 2024 Motorsport Media Services Ltd

Other Links

  • About & Contact
  • Privacy Policy
  • Motorsport Monday

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Home
  • Formula 1
    • Latest News
    • 2025 F1 Calendar
    • 2025 F1 Championship Standings
  • Formula E
    • Latest News
    • 2025 FE Calendar
    • 2025 FE Championship Standings
  • MotoGP
    • Latest News
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
    • World Superbikes
  • WRC
    • Latest News
    • 2025 WRC Calendar
    • 2025 WRC Standings
  • IndyCar
    • Latest News
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WEC
    • Latest News
    • 2025 WEC Calendar
  • Live Updates
  • Other
    • IMSA
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
  • Galleries
  • About/Contact
  • Privacy Policy

© 2024 Motorsport Media Services Ltd