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 »
3y ago from GrandPrix247.com 0
Share

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

F1 owner Liberty Media set to finalise purchase of...

Formula 1 owner Liberty Media are in talks to buy Madrid-based company...

Popular On IndyCarToday.com

Rosenqvist: Confidence within MSR growing with every...

Felix Rosenqvist has started off his time with Meyer Shank Racing on a...

Popular On TotalWRC.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

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.