News Details
Confirmed: McLaren to receive £150 m loan from National Bank of Bahrain
UPDATE: McLaren have now confirmed that they will receive £150 million from the National Bank of Bahrain to resolve its cash-flow problems. The original story, published last week, is as follows: With its finances decimated by the COVID-19 pandemic, the BBC is now reporting that the company will receive a loan from the National Bank of Bahrain (NBB), pending board approval. Bahrain Mumtalakat Holding Company, which is the majority shareholder in the McLaren Group, owns a 49% stake in the NBB. Despite a £291m cash injection from investors in March, McLaren claims those funds have been entirely spent in the interim, necessitating further investment which has proved difficult to come-by....
Full Story »
Full Story »
3y ago from GrandPrix247.com
0
You May Also Be Interested In...
Report: McLaren to receive loan from National Bank of...
McLaren are on the verge of securing a loan from Bahrain's national bank...
3y ago from GrandPrix247.com
McLaren secures vital £150m loan from Bahrain's...
McLaren's short-term future has been secured after confirmation of a...
3y ago from MotorsportWeek.com
McLaren reaches agreement for a £150 million loan
McLaren has reached an agreement with the National Bank of Bahrain for a...
3y ago from GPBlog.com
McLaren gets £150m lifeline from National Bank of...
The McLaren Group has received a crucial lifeline in the form of a £150...
3y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Aprilia needs "better bike" to be stronger...
No description available...
1h ago from Motorsport.com
Pramac's Morbidelli still "missing freedom"...
No description available...
21h ago from Motorsport.com
F1 owner Liberty Media set to finalise purchase of...
Formula 1 owner Liberty Media are in talks to buy Madrid-based company...
1d ago from MotorsportWeek.c...
Oliveira frustrated by "baby steps" as 2024...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
The good, bad, and ugly of IndyCar's half-baked...
No description available...
19h ago from Motorsport.com
Rasmussen, Siegel and Simpson complete oval rookie...
No description available...
1d ago from Motorsport.com
Rising concerns in IndyCar over PFC’s braking system
No description available...
2d ago from Motorsport.com
Rosenqvist: Confidence within MSR growing with every...
Felix Rosenqvist has started off his time with Meyer Shank Racing on a...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Neuville reveals “MacGyver” style WRC Safari Rally...
No description available...
2h ago from Motorsport.com
WRC Safari Rally: Rovanpera stuns rivals to lead as...
No description available...
4h ago from Motorsport.com
How WRC Rally1 teams embraced the return of the...
No description available...
19h ago from Motorsport.com
Disaster for Hyundai as Lappi and Tänak retire from...
Esapekka Lappi retired his Hyundai i20 N with a broken gearbox in stage...
25m ago from MotorsportWeek.c...
Popular On GunnersToday.com
“Can be hurt on transition” - Gael Clichy delivers...
No description available...
1h ago from SportsKeeda.com
“Both playing really well at the moment” - Jack...
No description available...
1h ago from SportsKeeda.com
“I just don’t know if I’m ready to trust this...
No description available...
1h ago from SportsKeeda.com
Arsenal and Manchester United keen on French defensive...
Arsenal and Manchester United are always on the lookout for prospects who...
1h ago from CaughtOffside.com
Comments
Hottest News
Verstappen and Red Bull see key member suddenly leave with...
Red Bull Racing and Max Verstappen are saying... Read More »
5h ago from GPBlog.com
Who is Lee Stevenson, Verstappen's chief mechanic leaving...
Lee Stevenson announced his departure from Red... Read More »
2h ago from GPBlog.com
Wolff admits Mercedes situation is ‘brutally painful’
Mercedes is in a “brutally painful” position... Read More »
55m ago from Racer.com