Motorsport Week
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Team/Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2022 Session Results
    • 2022 Championship Standings
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2022 Championship Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2022 Championship Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • More
    • IMSA
      • 2023 IMSA GTP Team/Driver Line-up
      • 2023 IMSA Calendar
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
LIVE
No Result
View All Result
  • Formula 1
    • 2023 Formula 1 Calendar
    • 2023 Formula 1 Team/Driver Line-Up
    • 2023 Formula 1 Driver Penalty Points
    • 2022 Session Results
    • 2022 Championship Standings
  • Formula E
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • 2022/23 Formula E Team/Driver Line-up
  • IndyCar
    • 2023 IndyCar Calendar
    • 2023 IndyCar Driver Line-Up
    • 2022 Championship Standings
  • WRC
    • 2023 WRC Calendar
    • 2023 WRC Standings
    • 2023 WRC Driver Line-up
  • MotoGP
    • 2023 MotoGP Calendar
    • 2023 MotoGP Team/Rider Line-Up
    • 2022 Championship Standings
  • WEC
    • 2023 WEC Calendar
    • 2023 WEC Hypercar Team/Driver Line-up
  • More
    • IMSA
      • 2023 IMSA GTP Team/Driver Line-up
      • 2023 IMSA Calendar
    • Formula 2
      • 2023 Formula 2 Race Calendar
      • 2023 Formula 2 Driver Line-up
    • Formula 3
      • 2023 Formula 3 Race Calendar
      • 2023 Formula 3 Driver Line-up
    • DTM
    • WSeries
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

Saudi Arabia contributes to £550m investment in McLaren

by Ryan Wood
2 years ago
A A
1
McLaren to end involvement in Bahrain cycling team

McLaren logo. Australian Grand Prix, Friday 13th March 2020. Albert Park, Melbourne, Australia.

Share on FacebookShare on Twitter

The McLaren Group has raised £550 million in new investment which will help to support its automotive and racing divisions.

The new investment comes from multiple sources, but the largest share comes from the Saudi Arabia’s sovereign wealth fund, which is contributing around £400m of the investment, whilst existing shareholders, including Bahrain’s Mumtalakat, will contribute the remaining £150m.

“A limited number of new private investors” will invest the capital in the form of convertible preference shares, McLaren confirmed in a statement on Friday.

The investment will be used to repay an existing loan from the National Bank of Bahrain, which was sought during the pandemic as its road car business saw a slump in sales.

RelatedPosts

Video: ‘Our Time’ – Ford returns to Formula 1 with Red Bull Racing

Video: ‘Our Time’ – Ford returns to Formula 1 with Red Bull Racing

10 hours ago
F1 fans to design Red Bull liveries at US-based races in 2023

F1 fans to design Red Bull liveries at US-based races in 2023

10 hours ago

Sales have since rebounded and the Formula 1 team’s fortunes have turned around in recent years, with McLaren currently holding third in the Constructors’ Championship – the same place it finished in 2020.

It will also support a growth plan under recently appointed executive chairman Paul Walsh, a former chief at drinks giant Diageo.

“The transaction supports the company’s growth plans as a global luxury supercar and elite motorsport business, with Automotive as McLaren’s core profit driver,” the statement continued.

Earlier this year McLaren raised further funds by selling its Woking headquarters on a leaseback deal.

“Building on the short-term measures that we put in place last summer in response to the global pandemic, McLaren has taken a number of significant steps to put the company on a stable footing for the long-term, with the close support of its advisors and existing shareholders,” said Walsh.

“Following the strategic investment into Racing that we secured last year, this successful equity raise is a key element of our comprehensive financial strategy to support the Group’s sustainable growth plans.

“With these strong foundations now in place, we are well positioned to achieve our ambitions as a global luxury supercar and elite motorsport business, with Automotive as McLaren’s core profit driver. The strong appetite we have seen from investors reflects the continued confidence in McLaren’s iconic brand, industry-leading technology and exciting long-term growth prospects, underpinned by a more focused strategy and a stronger, more efficient capital structure.

“We look forward to working with Ares and PIF as they contribute their experience and knowledge to the Board.”

Tags: F1McLaren
Share346Tweet216Share86

Related Posts

Video: ‘Our Time’ – Ford returns to Formula 1 with Red Bull Racing
Formula 1

Video: ‘Our Time’ – Ford returns to Formula 1 with Red Bull Racing

10 hours ago
F1 fans to design Red Bull liveries at US-based races in 2023
Formula 1

F1 fans to design Red Bull liveries at US-based races in 2023

10 hours ago
Honda set for 2026 F1 return as power unit supplier
Formula 1

Honda set for 2026 F1 return as power unit supplier

11 hours ago
Load More

Comments 1

  1. caroline spencer says:
    2 years ago

    In layman’s terms: McLaren’s finances are a train wreck.

    Reply

Leave a Reply Cancel reply

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

Popular Articles

Haas’ new livery kick-starts 2023 F1 launch season
Formula 1

Haas’ new livery kick-starts 2023 F1 launch season

January 31, 2023
McLaren adds Schumacher as a reserve driver
Formula 1

McLaren adds Schumacher as a reserve driver

February 1, 2023

2023 F1 Car Launches

TeamCar NameDate
HaasVF-2331 January*
Red BullRB1903 February
WilliamsFW4506 February*
Alfa RomeoC4307 February
AlphaTauriAT0411 February
Aston MartinAMR2313 February
McLarenTBA13 February
FerrariTBA14 February
MercedesW1415 February
AlpineA52316 February
*Livery reveal

Upcoming Races

#EventLocationDate
-Pre-Season TestingSakhir 23-25 February
1Bahrain GPSakhir05 March
2Saudi Arabian GPJeddah19 March
3Australian GPMelbourne02 April
4Azerbaijan GPBaku30 April

Click here for the full 2023 F1 calendar

Drivers’  Standings

#DriverPts
Max Verstappen
Sergio Perez
Charles Leclerc
Carlos Sainz
George Russell
Lewis Hamilton
Esteban Ocon
Pierre Gasly
Lando Norris
Oscar Piastri

Click here for full Drivers’ Standings

Follow Motorsport Week

Motorsport Week

© 2023 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
    • Standings
    • 2023 F1 Calendar
    • Team/Driver Line-Up
    • Session Results
    • Driver Penalty Points
  • Formula E
    • Latest News
    • 2022/23 Formula E Standings
    • 2022/23 Formula E Calendar
    • Session Results
  • MotoGP
    • Latest News
    • Standings
    • Calendar
  • WRC
    • Latest News
    • Standings
    • Calendar
  • IndyCar
    • Latest News
    • Calendar
    • Standings
  • WEC
    • Latest News
    • Calendar
  • Live Updates
  • Other
    • Formula 2
    • Formula 3
    • Moto2
    • Moto3
    • WSeries
    • DTM
    • IMSA
  • Galleries
  • About/Contact
  • Privacy Policy

© 2023 Motorsport Media Services Ltd

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
X