McLaren Group receives fresh £200m investment

The McLaren Group has announced it has received a fresh investment of £200 million that will be received across the course of the coming year.

In a statement issued by the McLaren Group earlier this week, it confirmed that it would be issuing new equity capital following an injection of £203.8m by Nidala (BVI) Limited to purchase over 800,000 shares in the company.

“This new capital, which is part of the Group’s simplification over the last 12 months, will significantly strengthen the Group’s balance sheet and underpins its ambitious growth plans laid out in its five-year business plan,” the statement from McLaren reads.

“This injection of capital is a vote of confidence in our future strategy and the Group remains as focused as ever in positioning for growth,” said Shaikh Mohammed bin Essa Al Khalifa, McLaren Group Executive Chairman.

McLaren has been working to fill the gap left by Honda following its split from the Japanese manufacturer at the end of last season, which had been injecting finance into the company as well as supplying engines to its Formula 1 team.

McLaren Racing CEO Zak Brown said over the Spanish Grand Prix weekend that he had no concerns about pressure from the company’s shareholders as the team continues to struggle to fight at the front of the field in F1.

“I think our shareholders have been in the sport a long time. They completely understand the sport,” Brown said.

“If you look at the sponsorship that’s come in to Formula 1 teams this year, we’ve brought in more new partners than anyone else.

“They’re patient, understanding of the sport. We all want to bring in as many sponsor partners as possible. They also know it’s not that easy.”

As per a report from RaceFans.net, Nidala may have links to Formula 2 racer and current Force India development driver Nicholas Latifi via his father, Michael.