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 »
1mo 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...
1mo 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...
1mo ago from F1i.com

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

Williams drivers George Russell and Nicolas Latifi have taken 20% pay...
1mo ago from GPFans.com

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

The postponement of the Canadian Grand Prix leaves Formula 1 rookie...
1mo ago from GPFans.com

Elsewhere On The Network

Popular On MGPToday.com

Ducati sign Jack Miller for 2021 MotoGP ride

Ducati have announced that Australian rider Jack Miller will join the...

Official: Jack Miller joins factory Ducati team

Ducati has officially confirmed that Jack Miller will step-up to its...
6h ago from Crash.net

Popular On IndyCarToday.com

Podcast: Who The Hell Are You, Paul Tracy?

The 18th of 22 episodes for Season 2 of Who The Hell Are You? features...
3h ago from Racer.com

Robin Miller's Mailbag for May 27

Welcome to this week’s installment of Robin Miller’s Mailbag!...
5h ago from Racer.com

DHS asked to include international drivers on U.S....

Indiana senator Mike Braun has asked Department of Homeland Security...
20h ago from Racer.com

Popular On TotalWRC.com

WRC's Latvala in trouble over unpaid taxes

Finnish tax authorities have moved against Jari-Matti Latvala,...

Prodrive releases low-cost ventilator to aid COVID-19...

Prodrive and Cambridge University have worked together to release a...

Tanak: Hyundai move ‘better than expected',...

Reigning FIA World Rally Champion Ott Tänak believes his start with the...

Popular On GunnersToday.com

Saint-Etienne boss Claude Puel backs William Saliba to...

Saint-Etienne boss Claude Puel believes William Saliba will be a success...
1h ago from DailyStar.co.uk

Arsenal risk losing key player before the end of this...

Many fans might expect Arsenal to get rid of some players this summer as...
52m ago from CaughtOffside.com

Arsenal have option to extend but confirm Luiz deal...

David Luiz could leave Arsenal on a free at the end of the season after...
1h ago from News.ArseBlog.com

Arsenal hoping to raise £32.4m from defender sales

Arsenal are hoping to raise more than £32m by selling defensive trio...
3h 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.