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McLaren gets a $185 million boost

Automaker was struggling through coronavirus lockdown

McLaren's Formula One future was never in doubt despite a cash crisis brought on by the COVID-19 pandemic and now resolved by a fresh injection of funds, team principal Andreas Seidl said on Tuesday. The National Bank of Bahrain announced on Monday a 150 million pound ($184.26 million) financing facility for the McLaren Group, which includes the team and supercar manufacturer. Bahrain's sovereign wealth fund Mumtalakat Holding Co is McLaren's majority shareholder.

McLaren trying to raise millions by putting its HQ, historic cars up for collateral

Another car company hit hard by the coronavirus

McLaren is looking into various funding options to help the sportscar maker and Formula One team owner negotiate the coronavirus pandemic, a spokesman said on Thursday. Sky News reported that British-based McLaren was seeking to raise up to 275 million pounds ($335.61 million) by borrowing against its Woking headquarters and extensive collection of historic racing cars. It quoted sources as saying McLaren, advised by JP Morgan, could raise the money in the form of new bonds with funding secur

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