McLaren have resources to return to front, amid plans to sell factory
McLaren chief Zak Brown says he is confident his Formula 1 team have the “resources and people” in place to bring the iconic British racing team back to the front, amid news the McLaren Group plans to sell their factory and lease it back.
McLaren are in the midst of a restructure, and earlier this year agreed a £150m loan arrangement with the National Bank of Bahrain to shore up their finances. It was part of a wider plan to solidify their long-term future, following the challenges the coronavirus pandemic has placed on the company.
Earlier this week, Sky News reported McLaren wanted to boost its cashflow by selling the Norman Foster designed McLaren Technology Centre , built in 2003, and then lease it back.
On Friday, Team Principal Andreas Seidl said the move “doesn’t affect out daily business on the F1 side” with Brown explaining the reasoning behind the move in a video call on Saturday.
