McLaren F1 Forced to Take Drastic Measures Amidst Financial Woes

By 2 months ago

Mclaren has revealed that they are planning to sell their massive Headquarters and later lease it back. The McLaren Group were forced to make this decision to manage the losses they faced during the COVID-19 crisis.

The visually attractive Mclaren Headquarters holds two different buildings, the McLaren Technology Centre and the McLaren production Centre. This HQ is reportedly built over an area of 50-hectares.

The McLaren Group has also revealed that they are in no thought of moving their headquarters to an entirely different place. Instead, they are planning to lease the building back and continue their usual work.

This Norman Foster-designed facility in Woking, England, houses the team and its automotive group since the year 2003. Despite taking nearly a decade to complete the project, the outcome turned out to be worth it as this facility is considered one of the best facilities among the other F1 team headquarters.

The company faced a loss of nearly €150m over the first half of this year. Eventually, the company had reportedly secured a financial deal with Bahrain National Bank.

Related Post

The company is also hoping to sell the Facility for around €200m to cope with this loss. Property Agency Colliers has been hired to find a buyer who is looking to lease it back.

How is this going to affect the Mclaren team?

This situation currently faced by the McLaren Group is unlikely to affect the team’s performance on the track this season. But if their situation doesn’t subside anytime soon, the impact could affect the team’s development for the next season.

McLaren is currently holding onto 3rd in the Constructors’ Championship, building on their domination from last season as the best of the rest.

The team has already bagged 98 points with both drivers holding a podium this season. Recently, Carlos Sainz finished in a stunning P2 last week at the Italian Grand Prix, crossing the line only a second off of Pierre Gasly.

Disqus Comments Loading...