McLaren borrows EUR48m for new factory; buy back F1 team from Mercedes

 McLaren borrows EUR48m for new factory; buy back F1 team from Mercedes
Mclaren MP4-12C world debut, Jenson Button, Goodwood FOS 2010, 07.07.2010

McLaren has reportedly borrowed nearly EUR50 million to build its new production car factory and buy back the formula one team from Mercedes.

The Independent newspaper said it the first debt the Woking based company has taken on since 2005.

A spokesman said the HSBC loan will also "provide head room on its facilities to assist in the buyback of the remaining Daimler shares by the end of 2011".

McLaren's intellectual property, cash in the bank, and its land and buildings at Woking, are providing the security for the loan, according to the report.

The British company is reportedly also offering 48 per cent of the new Ron Dennis-headed road car business McLaren Automotive to private investors.

Source: GMM

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 Hero Sina Hero Sina
that's a good move , Mercedes engines really suck
August 2, 2010 8:12 am
 ForceInduction ForceInduction
Mercedes Benz engines suck? what are you smoking?
August 2, 2010 10:49 am
 Shyne Shyne
lol..youre joking right?!
August 2, 2010 10:49 am
 SZQ SZQ
let me guess...ur a ferrari fan? lol
August 2, 2010 10:57 am
 jeanberque jeanberque
Hey hero sina are you drunk?
August 2, 2010 12:12 pm
 bone91 bone91
what planet are you from??
August 2, 2010 10:41 pm
 Bristol411S3 Bristol411S3
Yes, I'd imagine them to get Ricardo or someone to develop their own engines for F1 to reflect the road cars so they can stand toe to toe with Ferrari as a credible car manufacturer in their own right.
August 2, 2010 9:27 am
 SD-AMG SD-AMG
Hero Sina: What? Why do they suck? Which engine has won the last two titles in F1? Who has the most reliable/powerful roadcar engines? Just asking, and if your answer is Lexus or Audi, then go back to kindergarden!
August 2, 2010 10:01 am
 jsiucho jsiucho
Sina drives a Camry and talks about engines,, hahaha. Just so you know Pagani uses MB engines as well.
August 2, 2010 10:45 am
 dbehmoaras dbehmoaras
I'm pretty sure that the engines in the Pagani are built independently by AMG and not Mercedes, I'll double check that.
August 2, 2010 11:15 am
 McNamara68 McNamara68
Who's won "performance engine of the year" two years running? Among the most ill-advised statements ever made on WCF.
August 2, 2010 10:59 am
 Hero Sina Hero Sina
Hey everyone I'm not drunk and i wasn't joking ,, i don't drive Camry but at least i drive something,and i should say I'm a Brown GP fan not a Ferrari one.Excuse me but if you pay your damn attention to this article you will realize i was talking about F1 and particularly current season engines.About real world engines , Until BMW exists no one counts Mercedes(if you don't agree just take a look at International engine awards)
August 2, 2010 12:32 pm
 anonymous anonymous
you must be a hairy testicle among the shavers. everyone knows that mercedes built good engines. speaking about F1 and conventional car, they built excellent engines. bmw built great cars, mercedes doesn't match bmw in that segment, but they are the ones who built engines that make the strongest weak in their knees.
August 2, 2010 1:09 pm
 bone91 bone91
yeah! you must be drunk. can i ask, what is Brown GP??
August 2, 2010 10:43 pm
 Hellbound Hellbound
I think he means Brawn GP, and Ross Brawn now works for Mercedes Petronas and their F1 car sucks this season, so much so that Shoemaker has already asked the team to forget about this seasons car and start working full time on next seasons model. It's good to see McLaren taking some financial risk, they'll be better off in the long run as their road car build slots are booked solid for the next 2.5 years.
August 3, 2010 9:53 am
 jho5445 jho5445
hero sina, mercedes makes the best engines alright? why dont you actually take a look at how much power amg engines deliver and how much bmw got? and if you're not drunk then maybe you're just coked up
August 2, 2010 6:59 pm
 4g63 4g63
tht's the greatest news i hv ever heard=)
August 2, 2010 7:11 pm