Date published: June 29 2020
Great news from McLaren with Zak Brown saying their financial problems have been solved with an announcement coming before the week is out.
Earlier this month reports emerged claiming that McLaren was looking to sell a minority stake in its Formula 1 team to raise much needed capital.
Days later the Woking-based company began legal proceedings against its bond holders to gain permission to use its factory and historic car collection as collateral for a loan.
The bond holders were opposed to the idea, adamant those possessions were their own guarantees.
A day later Forbes revealed that McLaren had until mid-July to find much needed funds or the company would be declared insolvent.
The matter has yet to …
Read the full article at: https://www.planetf1.com/news/mclarens-financial-problems-solved/
