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I see the donkeys have managed to cunningly avoid the chance of scoring any points.
Yup.
Off to the sanctuary.
Already met new Team Boss.
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maguire

LE
Book Reviewer

Carbon 6

War Hero
Daniel Ricciardo's fastest lap was the highlight of that boring race for me. Crashie didn't get everything despite what Horner said.
 
Published by: James Attwood, digital editor, AUTOCAR magazine, on 13 December 2020.

McLaren sells stake in F1 squad to US-led investment group.

New deal worth £185 million will boost racing team, allow greater focus on Automotive business.

McLaren Group has sold a minority stake in its Formula 1 team to a US-based sports investment group, a move that shores up the future of the company and is designed to help the racing division return to the front of the grid.

A consortium led by MSP Sports Capital will invest £185 million in McLaren Racing, initially taking a 15 per cent share that will rise to 33 per cent by the end of 2022. The move values the long-running Formula 1 team, one of the most successful in the history of the sport, at £560 million.

The deal does not include McLaren Automotive, the firm’s road car arm, which will remain wholly owned by the McLaren Group and as a result will become a greater focus of the company. McLaren is gearing up to unveil the Artura, its first series production hybrid, next year as a replacement for its Sport Series line.

Autocar first revealed that McLaren was looking to sell a stake in its racing team in July, when the firm was struggling in the wake of the coronavirus and there was reportedly a clash between some of its shareholders over long-term goals for the Automotive, Racing and Applied divisions. McLaren Group has also been looking to raise funds from its Woking headquarters in a sale and lease-back deal.

MSP Sports Capital is a sports investment group that owns stakes in a number of sports teams and related companies. It has partnered with UBS O’Connor, a hedge fund owned by the Swiss bank, and The Najafi Companies, a private investment firm.

McLaren Racing boss Zak Brown has committed to the team “for the long term” following the deal, with his leadership team also remaining in place. As part of the deal, MSP Sports Capital’s Jeff Moorad and UBS O’Connor’s Rodrigo Trelles Zabala will join McLaren Racing’s board of directors.

Brown said: ““This new investment bolsters our plan to return McLaren to contention for race wins and championships in Formula 1 and IndyCar, and will strengthen our positive momentum as we continue to focus relentlessly on our mission to return to the top of the podium.”

Paul Walsh, McLaren Group’s executive chairman, said the partnership “represents another important step in our proactive strategy to position McLaren Group for long-term success. Bringing partner capital and expertise into McLaren Racing will support the team’s return to the front of the grid and further strengthen our financial position.

The McLaren racing team was founded by Bruce McLaren in 1963, and has competed in F1 since 1966. The team has scores 182 race wins, eight drivers’ and 12 constructors’ championships. It also expanded to run a team in the IndyCar Series this year.

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Announced/published today (and mentioned by the BBC Radio5x team), but also pertinent to the 2021 F1 thread . . .
 

Errr . . . I think we close the thread now . . . Merry Christmas everyone ;) !!
 

PFGEN

GCM
Dutch Newspapers were this morning full of news about Crashie, the driving god, who was taking the fight to Mercedes after showing the underlings a masterclass in racing. I reckon the Dutch F1 pundits are working from the same coffee shop. This was the same group that announced at the start of the season that RB had worked on their car all winter and with the man child at the wheel they would trounce Mercedes. Can't wait to see what drivel they write for the start of the 2021 season. No engine except the odd clunker from Renault, loss of a main sponsor and a driver that pisses on the suppliers and wants to drive for Ferrari. It's great seeing a perfect storm brewing as a result of arrogance.
 

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