Audi has bought out entire McLaren group, report claims
A report from Autocar claimed that Audi secured an entry into Formula 1 by making a deal to buy out the entire McLaren group – but this was quickly denied.
Coach said McLaren’s financial future will be secured by the deal, which will take “full control” of the entire group – including its Formula 1 operation.
The report also claimed that there are currently no changes in the management structure within the team, and an Audi spokesperson made no comment on the deal at the request of Coach.
– Coach (@autocar) November 15, 2021
The move would have confirmed that Audi’s parent company, the Volkswagen Group, was entering Formula 1, which had long been hinted at given its involvement in the negotiations surrounding the new engine formula proposed by the sport, to come for the 2026 season.
Porsche, also owned by VW, has also been involved in the engine talks, and they have previously been linked with a decision to partner with Red Bull as a powertrain supplier in the future, which could possibly take the relay of the new Red Bull. Powertrain Division.
The Autocar report also said that Audi’s acquisition of McLaren would not prevent Porsche from entering the sport themselves, with Porsche motorsport boss Thomas Laudenbach saying recently that the brand “is still considering” make a comeback in Formula 1.
“As part of our strategic considerations, we are constantly looking at various ideas for cooperation,” an Audi spokesperson said in response to the Autocar report, meaning they haven’t ruled out a future in F1.
While the report was quickly denied by McLaren, it is no secret that the McLaren group, and not just the Formula 1 team, have struggled financially in recent years.
In December 2020, McLaren became the last team to sell a significant portion of its Formula 1 squad to a consortium that included a US-based investment firm, injecting £ 185million of equity into McLaren Racing.
The consortium acquired a 15% stake and, under this initial agreement, was expected to increase to 33% in 2022.
And, earlier in 2020, McLaren laid off 1,200 staff following a major restructuring process. In addition, the team received a £ 300million injection from investors led by Mumtalakat, Bahrain’s sovereign wealth fund, as well as a £ 150million loan from the National Bank of Bahrain.