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McLaren to take 'significant' financial hit from COVID-19 pandemic
McLaren Racing says the impact of the global COVID-19 pandemic on its 2020 financial results will be "significant" while the long-term consequences of the crisis remain uncertain. The Woking-based outfit disclosed its financial results for 2019 which saw the team grow its revenue by 50 percent from £123m ($170.4m) to £185m ($256.4m), an increase mainly driven by sponsorship and prize money income after the team finished sixth in the Constructors' standings in 2018. But overall, McLaren's racing division reported a £71.4 million ($98.9m) loss for the 2019 financial year. However, the bottom-line number was £13m ($18m) less than the £84.4m ($117m) loss the company posted in...
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