Quote:
Originally Posted by Mike Harte
Richard, re your post above, one has to take into account prior reports that appeared to suggest that McLaren's financial woes are centred around their supercar operation, not their F1 operations. Sales were depressed even before the virus appeared, and they had/have issues surrounding the residual values of older, used cars plus other concerns.
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Agree with that. And I am bullish on the F1 side of things, but apparently everything is lumped together under the McLaren group organization. With solutions (as proposed by McLaren) for the car production side impacting everything.
For example if they are looking to generate short term cash, they are selling off some parts of their heritage collection (which I assume is predominantly on the racing side). Then there is the facilities. Google says that is pretty much the McLaren Technology Centre with that consisting of two (?) buildings. One is the HQ (and I assume core for the racing side) plus another for car production. But I see mention that the car production building contains racing related items (wind tunnel?) Which facilities are being sold. The car side, or both?
It sounds like there is no easy way to unlink the production car financial issues from the rest. Or at least McLaren Group is not looking to cut the car production side loose to remove impact to the other parts. So is there really any significant distinction between the problems of the rest of the business and the racing side if proposed solutions for one impact the other?
I don't revel in any of this. Over the years I have cheered for both Williams and McLaren. So I am sad to see both having these problems.
Richard