McLaren is considering to pledge The MTC and historic car collection

15-05-2020 15:48
by GPblog.com
F1 News
McLaren is considering to pledge The MTC and historic car collection

McLaren is also feeling the financial consequences of the corona crisis. The manufacturer, that is not only active in the Formula 1 but also on the car market and in other motorsport series, is considering pledging the McLaren Technology Centre and its historical F1 car collection for a huge amount of money.

Like many British companies and other F1 stables, McLaren is in financial danger. The team applied to the British government for a loan of £150 million. This application was subtly rejected, which forces the race stable to think creatively.

According to Sky Sports, the team from Woking is flirting with the idea of pledging the headquarters, the MTC, and the collection of historic racing cars. According to the British medium, the impressive collection that has been accumulated over 57 years, since it was founded by Bruce McLaren in 1963, would be worth £250 million.

Substantial mortgage

The choice to mortgage the car collection and technology headquarters together will yield an estimated value of £450 million. With this it is safe to say that McLaren can go a long way.

However, this plan is not entirely new. In 2017 part of the collection was already used as collateral during the business between Ron Dennis and McLaren. Afterwards, the collateral was lifted again. One of the reasons the collection is so valuable is the fact that it contains many championship cars such as those of Niki Lauda, Alain Prost, Ayrton Senna, Mika Hakkinen and Lewis Hamilton.

Motorsport.com asked for further explanation and confirmation, but did not get it. A spokesman: "Just as all British companies McLaren have been hit hard and so we are looking for ways to keep our cash flow in order for the short term".

Read more about: McLaren Formula 1

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