News Details
McLaren ‘seeking £150m Bahrain bank loan'
McLaren are set to address their financial worries by arranging a loan from the National Bank of Bahrain (NBB) to provide a £150m cash injection next month. Autosport are reporting the move would allow the company to obtain at least the first stage of the required refinancing from a ‘friendly’ organisation that shares a significant part of its ownership with McLaren itself. The NBB is 44% owned by the Mumtalakat Holding Company, Bahrain's sovereign wealth fund, which also owns 56% of McLaren. A loan between the two parties would be on more favourable terms than those available on the financial markets. Court documents have indicated McLaren are seeking £280m altogether and that new...
Full Story »
Full Story »
3y ago from PlanetF1.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 poised to secure loan from National Bank of...
McLaren is poised to secure a loan from the National Bank of Bahrain to...
3y ago from BBC.co.uk
McLaren set to take loan from Bahrain bank
Carlos Sainz tests for McLaren during pre-season The cash-strapped...
3y ago from SpeedCafe.com
McLaren in talks with National Bank of Bahrain for loan
McLaren is in a bit of a financial mess to pay the upcoming bills, so...
3y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
What is a wildcard in MotoGP and why is it used?
No description available...
1h ago from Motorsport.com
Yamaha to test completely new MotoGP bike at Jerez
No description available...
17h ago from Motorsport.com
Raul Fernandez set to get 2024 Aprilia MotoGP bike at...
No description available...
21h ago from Motorsport.com
Quartararo: Marquez's Honda exit ‘woke a lot of...
Fabio Quartararo believes Marc Marquez's exit from Honda last term 'woke a...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
McLaughlin issues statement following St. Pete...
No description available...
8h ago from Motorsport.com
McLaughlin disputes IndyCar's claim that rules...
Scott McLaughlin was one of the two Team Penske IndyCar drivers that were...
8h ago from MotorsportWeek.c...
Full-time IndyCar move “an option” says supersub...
No description available...
11h ago from Motorsport.com
O’Ward retroactively given St. Pete win after Team...
The NTT IndyCar Series announced on Wednesday that all three Team Penske...
19h ago from MotorsportWeek.c...
Popular On TotalWRC.com
Ford simulator boosting M-Sport WRC Puma performances
No description available...
22h ago from Motorsport.com
Auction raises more than 50K for Craig Breen Foundation
No description available...
20h ago from Motorsport.com
FIA not at war with manufacturers over 2025 WRC...
No description available...
2d ago from Motorsport.com
ERC star Sesks secures WRC Rally1 graduation with...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
Newcastle United 'leading Arsenal, Chelsea, Liverpool...
Newcastle United are reportedly regarded as the new frontrunners to secure...
52m ago from SportsMole.co.uk
'It looks a bit crass' - Mesut Ozil trying to emulate...
No description available...
2h ago from SportsKeeda.com
Ex-Arsenal & Man Utd star RVP in advanced talks...
Former Arsenal and Manchester United striker Robin van Persie is in...
1h ago from CaughtOffside.com
Pedro Porro, Richarlison - Tottenham Hotspur injury...
Sports Mole rounds up Tottenham Hotspur's injury and suspension news ahead...
22m ago from SportsMole.co.uk
Comments
Hottest News
Audi agree LONG-TERM F1 deal with star driver
Audi have agreed a long-term deal for the first... Read More »
2h ago from GPFans.com
F1 CEO hits back at drivers' schedule gripes
Apr.25 Stefano Domenicali is taking a hard-line... Read More »
42m ago from OneStopStrategy.com
Blue livery and logo for Ferrari in 100m F1 deal
Apr.25 Ferrari's surprise decision to use a blue... Read More »
42m ago from OneStopStrategy.com