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Old 20 Apr 2021, 20:55 (Ref:4046965)   #1876
Richard Casto
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Originally Posted by bjohnsonsmith View Post
McLaren sells F1 factory in ?170 million leaseback.


https://www.motorsport.com/f1/news/m...-back/6365400/
I am not an expert in these things, but I "think" I have heard of business preferring to do this. But to me, this is seems like good short term, bad long term. You get an immediate input of cash, but over the long haul you are just leasing what was previously yours. And the longer this goes, the less it makes sense. I guess it gives you flexibility of moving later on. Do they plan to eventually move? I would have thought they might do this with their auto manufacturing buildings (which I think is part of the larger complex), but it surprises me that they sold the main building.

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Old 13 Jul 2021, 14:37 (Ref:4060927)   #1877
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Lando Norris was mugged leaving Wembley on Sunday after the European cup final and his watch was stolen


https://www.rte.ie/sport/euro-2020/2...ro-2020-final/
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Old 13 Jul 2021, 15:40 (Ref:4060934)   #1878
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Originally Posted by wolfhound View Post
Lando Norris was mugged leaving Wembley on Sunday after the European cup final and his watch was stolen


https://www.rte.ie/sport/euro-2020/2...ro-2020-final/
i read this as well...i am assuming that like at most stadiums/arenas, players and VIPs etc park in a secured section of the lot?

serious security questions overall for this event!
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Old 13 Jul 2021, 16:09 (Ref:4060937)   #1879
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Originally Posted by wolfhound View Post
Lando Norris was mugged leaving Wembley on Sunday after the European cup final and his watch was stolen


https://www.rte.ie/sport/euro-2020/2...ro-2020-final/
I saw this yesterday. Thankfully he didn't get a black eye like Bernie did! Seriously, I am glad he didn't get hurt.

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Old 13 Jul 2021, 18:02 (Ref:4060941)   #1880
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I suspect he enjoyed his run at the FOS in Senna's McLaren on Sunday rather more......
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Old 13 Jul 2021, 21:18 (Ref:4060957)   #1881
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I suspect he enjoyed his run at the FOS in Senna's McLaren on Sunday rather more......
Yes!! Didn't he say he was already pestering Zak about gettin it out for a trackday at some point soon?
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Old 14 Jul 2021, 08:20 (Ref:4060989)   #1882
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That's nice to know he wants to take it for a spin round the track, shows he has the enthusiasm for the sport. We'll see if Zak will let him
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Old 14 Jul 2021, 09:12 (Ref:4060993)   #1883
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I saw this yesterday. Thankfully he didn't get a black eye like Bernie did! Seriously, I am glad he didn't get hurt.

Richard
No doubt Bernie " got them sorted " though .....!
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Old 14 Jul 2021, 10:20 (Ref:4060994)   #1884
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I think Bernie was too scared to do anything
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Old 18 Jul 2021, 20:18 (Ref:4061912)   #1885
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So McLaren hosted Prince Edward today as part of their support of the Duke of Edinburgh award scheme. Is this the same McLaren that laid off all of its apprentices at the first whiff of trouble last year?…
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Old 18 Jul 2021, 21:59 (Ref:4061930)   #1886
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Maybe, but the DofE award scheme is nothing to do with apprenticeships.
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Old 18 Jul 2021, 22:53 (Ref:4061944)   #1887
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I seem to recall there were lots of worries about McLaren at the beginning of the pandemic. I found the thread. https://tentenths.com/forum/showthread.php?t=155166

Although on apprentices and not a McLaren thing specifically the cost cap might limit this. I think I read somewhere there were calls for this to be outside the cap recently?
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Old 19 Jul 2021, 10:49 (Ref:4062056)   #1888
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McLaren seem to have got their finances sorted for their moment. I wouldn’t say they have quite the unlimited budget, but certainly better than last year when things were looking less certain

I would say apprenticeships haven’t been the top priority for McLaren of late and who can blame them with them needing to secure their future first
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Old 19 Jul 2021, 13:00 (Ref:4062105)   #1889
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I seem to recall there were lots of worries about McLaren at the beginning of the pandemic. I found the thread. https://tentenths.com/forum/showthread.php?t=155166
Yes - and that story is still ongoing. However, in the context of this thread, it appears that being able to compete has been secured for the foreseeable future.

In Dec 2020:
'McLaren seeks up to £500m in possible blank-cheque merger'
'After laying off a quarter of its staff during the pandemic and raising emergency funding in the summer, the company is seeking ways to cut its debt pile before refinancing bonds that mature in 2022, Mike Flewitt, McLaren Automotive chief executive, told the Financial Times.
“We need to restructure the total business,” he said. “We went into this year having two very successful years in automotive, but the total business did not have the liquidity to survive this kind of crisis.”'


Three days ago:
'McLaren gets finance boost from Saudi Arabian wealth fund'
'The McLaren Group announced a 550 million pound ($758 million) equity investment, with much of it coming from Saudi Arabia's Public Investment Fund (PIF) and global investment firm Ares Management.
PIF and Ares were providing 400 million of new capital, in the form of preference shares and equity warrants, McLaren said on Friday.
The rest will come from existing shareholders as convertible preference shares, allowing for repayment of a loan received in June last year from the National Bank of Bahrain.'


So financially they are looking stronger. On the track they are performing well. The future looks good for them, having been through the tough challenge of a global pandemic and having to make difficult decisions to survive.
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Old 19 Jul 2021, 18:19 (Ref:4062196)   #1890
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Maybe, but the DofE award scheme is nothing to do with apprenticeships.
I fully realise that however to portray themselves as supporters of young people is a little disingenuous
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