News Details

Latifi bails out Williams

Although the amount is unclear, Michael Latifi, father of driver Nicholas, has joined HSBC in refinancing the company's corporate borrowings. Worryingly, the loan is secured on the team's factories, land, plant machinery and even its historic collection of over one hundred title and race-winning cars. Latifi, it will be recalled, also has a $100m stake in McLaren. 'Following the sale of Williams Advanced Engineering at the end of 2019 we began a refinancing process,' Claire Williams told Motorsport.com. 'After considering a number of options, we have now concluded our refinancing with a consortium of lenders, all of which was negotiated on an arms-length commercial basis. 'The loan package...
Full Story »
3y ago from Pitpass.com 0
Share

You May Also Be Interested In...

Sad Latifi says Canadian GP call-off 'inevitable'

Williams rookie Nicholas Latifi won't be making his F1 race debut on home...
3y ago from F1i.com

Mercedes: Production of COVID-19 breathing aid in full...

Mercedes has announced that the design of the breathing aid engineered in...
3y ago from F1i.com

Russell and Latifi take pay cuts, Williams furlough...

Williams drivers George Russell and Nicolas Latifi have taken 20% pay...
3y ago from GPFans.com

Latifi: 'Fingers crossed the Canadian GP does happen...

The postponement of the Canadian Grand Prix leaves Formula 1 rookie...
3y ago from GPFans.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

Neuville pips Tänak in Safari opener

FIA World Rally Championship leader Thierry Neuville took a slender...

Popular On GunnersToday.com

Crunch time: Easter games that have shaped the Premier...

the sharp end of the season fast approaches, here are four classic matches...
3h ago from TheGuardian.com

Key Manchester City duo miss training ahead of Arsenal...

Manchester City train without defenders Kyle Walker and John Stones ahead...
41m ago from SportsMole.co.uk

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.