McLaren in financial difficulties, forced to sell 54 cars and F1 from its private collection
McLaren has been in financial difficulties for several years. The Woking-based team, historically a Formula 1 manufacturer before becoming a hypercar builder, recently had to part with several cars from its private collection.
McLaren’s finances, the group that owns the Formula 1 team, are not in good shape. Based in Woking, at the McLaren Technology Center, the company had already had to sell its factory to an investment fund in order to generate cash flow. The GNL group acquired it in 2021 for 170 million Lives, which was nearly 200 million euros at that time.
However, it is not enough. American and Saudi investment funds entered McLaren’s capital last year and raised no less than $1 billion over the past two years to enable the British group to transition to hybrid and electric motor solutions.
In order to finance the technical development of improvements on road cars, including the McLaren Artura, the group recently had to sell several collector cars from its private museum to the Bahraini fund, Mumtalakat Holding Co. Indeed, McLaren announced the sale of 54 supercars and Formula 1 cars.
In 2020, a portion of the capital of the F1 team was sold to MSP Sport Capital, an American investor who owns several collective sports teams as well as the X Games.
The McLaren group has been recording losses for several years. In 2020, McLaren had a loss of 28 million pounds, and then 378 million last year in 2021.
