McLaren are set for more borrowing to keep them in business whilst they arrange more borrowing/investment...
https://www.autosport.com/f1/news/15...-national-bank
The McLaren Group looks set to arrange a loan from the National Bank of Bahrain (NBB) as it seeks the finances to address an urgent cash shortfall.
The move would allow the company to obtain at least the first stage of the required refinancing from a "friendly" organisation that shares a significant part of its ownership with McLaren itself.
The NBB is 44% owned by the Mumtalakat Holding Company, Bahrain's sovereign wealth fund, which also owns 56% of McLaren. A loan between the two parties would be on more favourable terms than those available on the financial markets.
Court documents have indicated that McLaren is seeking £280m, and that new funding is required by mid-July as the impact of the COVID-19 crisis hits the company hard.
I can't see any of this ending well, paying all of this back is surely reliant on a rapid turnaround in the performance of the road car and F1 team businesses?