McLaren decision hangs on company ownership bid

Jenson Button and Kevin Magnussen both face an agonising wait to learn their fate, with both vying for the last seat at McLaren alongside Fernando Alonso.

A decision was expected this week, but a board meeting on Thursday failed to come up with an answer, leaving both Button and Magnussen's futures in doubt, not to mention how many fans it angered.

Chairman Ron Dennis and the McLaren board disagree on who should be driving the second car and once again failed to agree on Thursday, therefore a decision is likely to hang on who controls the company in the next few weeks.

Dennis recently launched a bid to take majority ownership of the McLaren Group. He currently owns 25 per cent, with Bahrain's Mumtalakat owning 50 per cent and the remainder under the Ojjeh Family's TAG Group.

Dennis is looking to raise funds in the order of £180 million ($282m) to buy back 37.5 per cent of the company, giving him a 62.5 per cent controlling stake.

It's believed Dennis has a strict deadline to meet if he's to successfully complete the deal, otherwise it'll be called off.

Therefore the question remains, is Dennis backing Button or Magnussen? Because if he's successful in raising the necessary funds, then he'll be the one making the decision, not the board.