News Details
McLaren's £200million investment covered Honda breakup costs
McLaren used Michael Latifi's £200million investment to cover the costs of the split from Honda last season. Honda had been paying an incredibly high amount of money towards the team's budget, including the contract of Fernando Alonso. McLaren Group’s chief financial officer Paul Buddin said in an investors call that the costs of the split were soaked up using the fresh investment from the Nidala group, owned by F2 driver Nicolas Latifi's father. “The reason we went for that equity was that we recognised our decision, for performance reasons, to take the Honda engine out of the Formula 1 car, would have a significant impact on our cash flows within Formula 1,” said...
Full Story »
Full Story »
7y ago from GPBlog.com
0
You May Also Be Interested In...
Gasly points finger at Alonso: He hates us because of...
Pierre Gasly accused Fernando Alonso of mistreating Toro Rosso drivers...
7y ago from GPFans.com
Alonso doesn’t like our team because we use Honda PU...
Yet another driver has hit out at retiring F1 driver Fernando Alonso....
7y ago from ThisIsF1.com
Alonso: Reliability seems to have made a step backwards
Fernando Alonso had a dismal final Italian Grand Prix, it only lasted...
7y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Francesco Bagnaia: MotoGP should hold a test before...
Francesco Bagnaia has called on MotoGP to hold a test before racing at a...
1h ago from MotorsportWeek.c...
The task Gigi Dall'Igna faces to revive Ducati’s...
No description available...
2h ago from Motorsport.com
Honda plans to field six bikes in MotoGP next year
No description available...
4h ago from Motorsport.com
Marco Bezzecchi ‘wasn’t expecting’ Aprilia COTA...
Marco Bezzecchi admitted he “wasn’t expecting” a record-breaking...
22h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Christian Lundgaard left frustrated by costly pit stop...
Christian Lundgaard finished second in Sunday’s IndyCar race from...
1d ago from MotorsportWeek.c...
Pato O’Ward left searching for answers after...
No description available...
20h ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
1d ago from Motorsport.com
David Malukas “learned a lot” with tire strategy...
No description available...
21h ago from Motorsport.com
Popular On TotalWRC.com
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
1d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
5d ago from Motorsport.com
How Toyota’s new flying Finn is starting to make WRC...
No description available...
4d ago from Motorsport.com
Takamoto Katsuta backs Kalle Rovanpera to “come back...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
'I'm thinking about…' – Man United,...
Nottingham Forest central midfielder Elliot Anderson insists he's only...
6h ago from CaughtOffside.com
Havertz on the scoresheet : Tuchel speaks well again
Morning. It's still all about the injuries and the Interlull this morning....
7h ago from Arseblog.com
Arsenal could leapfrog Man United for Elliot Anderson...
Manchester United’s top summer transfer target, Elliot Anderson, has...
15h ago from CaughtOffside.com
Arsenal make first move for 17-goal star but Tottenham...
German striker Nicolo Tresoldi is a target for Arsenal and Tottenham ahead...
15h ago from CaughtOffside.com
Comments
Hottest News
Fernando Alonso baffled by Aston Martin Honda U-turn
Fernando Alonso was left baffled by his Aston... Read More »
4h ago from GPFans.com
Russell: It feels like all Mercedes' issues are coming on...
George Russell says he feels as though all of... Read More »
41m ago from SkySports.com
Computer says no as F1 star George Russell ruined by...
The blame for George Russell's Japanese Grand... Read More »
1h ago from GPFans.com
