McLaren’s future in Formula 1 was never in doubt despite needing to secure additional funding that was finally confirmed this week. The wider McLaren Group has been facing serious financial challenges as a result of the COVID-19 pandemic, which delivered a significant hit in terms of new car sales. The group has been evaluating a number of ways to raise capital – including selling shares in the F1 team – before this week securing a £150million ($184m) loan from the National Bank of Bahrain, where majority McLaren shareholder Mumtalakat also has a stake. Team principal Andreas Seidl said the loan is good news but insisted that the team’s future was not at risk while the different...
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