McLaren's shareholders not happy
Discussion
ralphrj said:
That might have been one of the original thoughts behind the road car business but unfortunately it will not be providing the F1 team with funding to supplement their lack of sponsorship because:
1. the road car business has not been a financial success, and
2. McLaren don't actually own very much of their road car business (less than 4.5%).
I haven't checked the figures but McLaren have reported that the road car project has met or exceeded profit targets and is profitable so not sure what the basis for it not being a success is. In terms of ownership, isn't it part of the McLaren group? In which case it is owned by the group and that group has shareholders who are the same as for the F1 team and other divisions. Happy to be corrected if I am wrong.1. the road car business has not been a financial success, and
2. McLaren don't actually own very much of their road car business (less than 4.5%).
BigBen said:
TheAngryDog said:
MG511 said:
TonyToniTone said:
Honda's 2009 car was pretty good.
With a dodgy double difuser and Merc engine.And as Adrian Newey always says, there is no 'spirit of the regulations'. It is either legal or it isn't.
andyps said:
I haven't checked the figures but McLaren have reported that the road car project has met or exceeded profit targets and is profitable so not sure what the basis for it not being a success is.
McLaren certainly claim that McLaren Automotive Ltd (the road car business) has met or exceeded profit targets but:1. without knowing what the profit targets were it is hard to know if that is true, and
2. reading their accounts paints a different picture.
The only year that they made a profit was 2013 when they made £4.5m (before tax). However, this profit was only possible because the shareholders had to convert their interest bearing loans into interest free loans or equity. I very much doubt that was part of the plan they set out for the investors. Without this restructure of the debt McLaren Automotive would have made another loss. In the 3 years before that they lost over £120m.
andyps said:
In terms of ownership, isn't it part of the McLaren group? In which case it is owned by the group and that group has shareholders who are the same as for the F1 team and other divisions. Happy to be corrected if I am wrong.
Ownership of the the road car business is very different to other parts of McLaren.McLaren Racing Ltd (the F1 team) is 100% owned by McLaren Group Ltd which in turn is owned by the Bahrainis, Ron Dennis and Mansour Ojjeh.
McLaren Automotive Ltd is owned by a group of investors, one of whom is McLaren Group Ltd. That shareholding is only 4.42%.
Thanks for that, interesting to know.
In terms of the road car division profit it does seem pretty reasonable that a start up car manufacturing business makes losses initially, and to turn a profit as soon as they did is pretty impressive, although I acknowledge the comment about the finance restructure.
In terms of the road car division profit it does seem pretty reasonable that a start up car manufacturing business makes losses initially, and to turn a profit as soon as they did is pretty impressive, although I acknowledge the comment about the finance restructure.
Gaz. said:
Gaz 1/10/2014 said:
benters said:
when RD signs a perceived top driver, sponsorship will follow in my opinion. LH or similar will create lots of focus combined with Honda, and I further wonder if the smaller sponsors are waiting to see if a larger title sponsor signs up before committing themselves.
More and more specialist media are reporting that the Honda ICE is 3-4 months behind schedule, it is too thirsty and not powerful enough. Acording to these articles it hasn't been run with the Mclaren ERS because it is not ready either and typicly for Mclaren Omnicorse say they are trying something extreme with the hybrid system. The chassis for the Abu Dhabi test is nearly ready though, alternatively you can turn that on its head and say the PU has not been run in a chassis mule yet which is what was the cause of most of Renault's problems. WCC next year? They'll be lucky if they are scoring points at all next year by the sounds of it.Would anyone like the lottery numbers for tomorrow's draw?
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