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Old 29 Dec 2017, 15:23 (Ref:3789613)   #946
Mike Harte
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Mike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the grid
The sale has been agreed in principle, however the payment for his shares are to be made in instalments. The first tranche went through fairly recently, but McLaren needed to borrow the money to make the payment for that 1st tranche.
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Old 29 Dec 2017, 17:05 (Ref:3789629)   #947
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peebee2 should be qualifying in the top 5 on the gridpeebee2 should be qualifying in the top 5 on the grid
He sold his shares 100% although being paid in tranches secured by mortgages on assets.
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Old 29 Dec 2017, 17:12 (Ref:3789634)   #948
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Mike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the grid
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He sold his shares 100% although being paid in tranches secured by mortgages on assets.
Which is what I wrote, although until he receives the full amount, the shares are held in escrow. McLaren have used a number of their old cars as security for the first loan; no idea what they will pawn to raise the rest of the money.
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Old 29 Dec 2017, 18:11 (Ref:3789645)   #949
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Not quite what you wrote before. The shares aren’t sold in “principle.” They are slid and RD took mortgages in the old cars as security for the debt. Big difference as the shares cannot revert.
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Old 29 Dec 2017, 20:26 (Ref:3789665)   #950
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Mike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the grid
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Not quite what you wrote before. The shares arenít sold in ďprinciple.Ē They are slid and RD took mortgages in the old cars as security for the debt. Big difference as the shares cannot revert.
Without getting too tied up in this, I do believe that McLaren raised the money from outside sources and it is they that hold the lien on the assets put up by McLaren - not Ron Dennis. And that was only to cover the first instalment. They still have to find further funds to pay for the balance of the shares, and I am pretty sure that Dennis will not let them go without receiving the full amount.

This could yet end up in court if he doesn't get his money!
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Old 29 Dec 2017, 20:38 (Ref:3789668)   #951
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Fair dos. It’s difficult to see McLaren ever getting back to the top, but we’ll see.
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Old 29 Dec 2017, 20:50 (Ref:3789669)   #952
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Without getting too tied up in this, I do believe that McLaren raised the money from outside sources and it is they that hold the lien on the assets put up by McLaren - not Ron Dennis. And that was only to cover the first instalment. They still have to find further funds to pay for the balance of the shares, and I am pretty sure that Dennis will not let them go without receiving the full amount.

This could yet end up in court if he doesn't get his money!
I thought Dennis made an offer of around £1.5bn to Mumtalakat and Ojjeh for McLaren, only for it to be rejected by his fellow shareholders as they wanted Dennis gone? Dennis then took those shareholders to the High Court, in order prevent them removing him from McLaren but lost the case and was subsequently removed in November 2016.
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Old 29 Dec 2017, 22:16 (Ref:3789683)   #953
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Mike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the grid
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I thought Dennis made an offer of around £1.5bn to Mumtalakat and Ojjeh for McLaren, only for it to be rejected by his fellow shareholders as they wanted Dennis gone? Dennis then took those shareholders to the High Court, in order prevent them removing him from McLaren but lost the case and was subsequently removed in November 2016.
That is so; they forced him to stand down as principle of the various companies, but he still retained his shareholdings in two of the companies; one of 11% and the other of 25%. It is those that they agreed to buy in July, but those purchases will be made in tranches, with the first of them taking place only fairly recently in the last couple of months. And they had to borrow the money to effect the purchase.
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Old 31 Jan 2018, 08:40 (Ref:3797101)   #954
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knighty should be qualifying in the top 5 on the gridknighty should be qualifying in the top 5 on the grid
Rather cutting from Alonso, but does say a lot about what Renault are now doing for McLaren.......I still think Renault want to do all they can to ensure McLaren crush RedBull this year, nothing like a bit of public punishment for Mr Horner the bear and whinge about, I'm sure McLaren would be only too happy to oblige.

http://www.crash.net/f1/news/889241/...re-facts-honda

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Old 31 Jan 2018, 15:19 (Ref:3797182)   #955
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S griffin has a real shot at the podium!S griffin has a real shot at the podium!S griffin has a real shot at the podium!S griffin has a real shot at the podium!
Well Renault do have their own team too donít forget
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Old 7 Feb 2018, 11:35 (Ref:3799295)   #956
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Mekola should be qualifying in the top 5 on the gridMekola should be qualifying in the top 5 on the gridMekola should be qualifying in the top 5 on the grid
Question isn't when the McLaren-Renault will work. We're not dumb, it will happen when Alonso Deportago will be replaced by Lando Norris....
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