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Leclerc considering sale of a minority F1 stake | Bet Regal Sports News

Breaking News :

Leclerc considering sale of a minority F1 stake

McLaren is contemplating selling a minority stake in its Formula 1 team in order to ensure it has a competitive future.

While the selling of a 20-30% stake is apparently being considered, GPFans understands it is just one of the various possibilities on the table with regard to raising extra capital for the F1 team. It is also understood McLaren’s situation is considerably different from that of F1 rival Williams, that recently stated the possible sale of the team, or at the very least is willing to accept outside investment to help overcome significant financial losses and secure its survival.

In contrast, McLaren is seeking to bolster the existing budget of the ‘Racing’ arm of the McLaren Group in order to compete with Mercedes, Ferrari and Red Bull.

The race team is not in financial danger, and the Automotive and Applied divisions of the company are not involved.

With the introduction of a $145million budget cap for 2021, it is McLaren’s belief that being able to spend up to this level will offer it the best chance of future success.

While 1,200 job losses across the Group were also recently announced, the 70 of those on the Racing side of the operation have been forced upon the team as part of its restructuring because of the cap and not because of any financial issue.

GPFans now understands this avenue of exploration is related to the McLaren Group as a whole, notably the Automotive side that has been hit hardest by the pandemic. Since winning the drivers’ title with Lewis Hamilton in 2008, McLaren has struggled to steadily challenge at the front, a fact made to look worse when considering its most recent constructors’ championship success was in 1998.

The 2019 campaign at least saw an upturn in results, with the team climbing back up to fourth in the constructors’ standings behind the ‘big three’, a level likely to be viewed internally as a minimum in years to come, especially if the investment it seeks is found.

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