McLaren hangs asking price of 200 million pound to factory in Woking

10-09-2020 14:02
by GPblog.com
F1 News
McLaren hangs asking price of 200 million pound to factory in Woking

The head office of McLaren is put up for sale. The team from Woking will market its facilities for £200 million, hoping to accelerate plans to strengthen the balance sheet. This is reported by Sky News on Thursday.

"The potential sale and leaseback of our global headquarters and the appointment of banks to advise us on a debt restructuring and equity raise are part of the comprehensive refinancing strategy that we announced earlier this year", said a McLaren spokesman in a statement.

Sustainable platform

With these initiatives, McLaren wants to build on the short-term measures already taken by the team earlier this year. "This should ensure that the McLaren Group becomes a sustainable platform for long-term growth and investment."

Last month the company announced they had made a loss of £184 million in the first six months of 2020. The team's uncertainty would remain due to the coronavirus.

Read more about: Formule 1 McLaren

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