McLaren: Fresh investment
#91

(20-09-2023, 11:38 AM)forzaferrari Wrote:  Oscar Piastri has signed a contract extension with McLaren, keeping him with the team until at least 2026

Great news, been mighty impressed with him so far. McLaren look close to being properly in contention now. I won't be unhappy if they can challenge Red Bull, but I'd still like Zak to move on. Never liked his approach to running in F1 and American series.
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#92

McLaren will use Mercedes power units in Formula 1 until 2030 after signing a new deal.

"You live more for 5 minutes going fast on a bike than other people do in all of their life"....Marco Simoncelli
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#93

McLaren are suing Alex Palou for £18.2million ($23m) in damages after the two-time IndyCar champion abandoned his contract with the team to sign a renewed deal with Chip Ganassi Racing.

According to the Associated Press, the Spanish driver admitted to a breach of contract in a 20-page legal document that was sent to the High Court. In this dossier, Palou said that he "lost trust and confidence that (McLaren) genuinely intended to support his ambition to race in the Formula One Series and decided to continue racing with CGR in the Indy Car Series instead."

The documents also stated that the 26-year-old "therefore admits that he renounced his contractual obligations" and that "the real issue between the parties is as to the quantum of any damages which the Defendants are liable to pay"

McLaren's desired damages will cover sponsorship losses, the cost of developing him as a test and reserve driver, as well as a £316,000 ($400,000) advance on his salary for the 2024 IndyCar season.

"When a man holds you round the throat, I don't think he has come to apologise" 
Ayrton Senna on Nigel Mansell, SPA 1987.   Angel
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#94

McLaren Formula 1 team has agreed a significant sponsorship deal with Monster Energy, in turn luring the high-profile drinks company away from Mercedes after 14 seasons.

"You live more for 5 minutes going fast on a bike than other people do in all of their life"....Marco Simoncelli
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#95

(28-11-2023, 07:40 PM)PapaofGags Wrote:  McLaren are suing Alex Palou for £18.2million ($23m) in damages after the two-time IndyCar champion abandoned his contract with the team to sign a renewed deal with Chip Ganassi Racing.

McLaren's desired damages will cover sponsorship losses, the cost of developing him as a test and reserve driver, as well as a £316,000 ($400,000) advance on his salary for the 2024 IndyCar season.

If Fat Zak had any nous he would ditch the American series entirely and focus all McLarens attentions on F1.

Shoot me, it's only my opinion.
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#96

Mumtalakat, the sovereign wealth fund of Bahrain, has agreed a “full recapitalisation” of McLaren Group, which sees a “simplified share structure and streamlined governance process” moving forward.   Cry

The announcement came following unanimous approval of the McLaren Group board, which oversees the McLaren Automotive and McLaren Racing divisions, for its road and track endeavours respectively.

A report from Sky News late on Tuesday night had claimed that Mumtalakat, already a majority shareholder in McLaren Group, had been set to effectively become sole shareholder through the conversion of around 20% of its equity into new contracts with the team’s minority shareholders.

Sky News’ report added that McLaren Racing has its own external shareholders, with that subsidiary area of the business overseeing their Formula 1, IndyCar, Extreme E and Formula E teams.

Mumtalakat had already owned an estimated 60% stake in McLaren Group, according to Reuters, and this recapitalisation is set to strengthen that position – though the announcement did not specifically state what proportion of the company it now owns.

Paul Walsh, McLaren Group Executive Chairman, said: “Completing the recapitalisation is a significant step in the ongoing transformation of the Group and provides a solid platform from which to grow our product offering and brand presence.”

"When a man holds you round the throat, I don't think he has come to apologise" 
Ayrton Senna on Nigel Mansell, SPA 1987.   Angel
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#97

McLaren urge FIA to act on key Red Bull relationship with ‘wider F1 interest’ highlighted.  (PF1)

Zak's not letting up   Wink

McLaren chief executive Zak Brown has urged F1’s governing body the FIA to act on blocking close bonds between teams like that between Red Bull and their junior outfit.

After RB chief executive Peter Bayer dismissed the McLaren chief’s complaints as “paranoia” on Tuesday, Brown has insisted he has the best interests of the sport at heart.

Asked if he is paranoid about Red Bull’s relationship with their sister team, Brown told Sky Sports: “No, I’m actually speaking in the wider interest of the sport.

“If you look at every other major sport, you’re not allowed to own two teams – and I’d even go further.

“There’s A-B team relationships and when these started 15 years ago it was because there was a huge gap between the top teams and the bottom teams.

“Now that there’s this great budget cap in place, all 10 teams are pretty much running to the cap so we have an equal playing field.

“So to have two ownerships, I can tell you from sitting in the FIA and F1 Commission meetings the voting is always the same even when, in theory, it shouldn’t be in one of the team’s best interests.

“We’ve seen it on track, some collaborations going on, and then technically they’ve been very forthright in where they’re going to take the suspension, etc.

“The definition of a constructor is a team who develops their own IP, so I just think the sport’s now moved on to an equal playing field.

“To have A-B relationships, to have co-ownership of two teams, I think isn’t a level playing field.

“That’s not what the fans expect and so the FIA really needs to do something about it.”

"When a man holds you round the throat, I don't think he has come to apologise" 
Ayrton Senna on Nigel Mansell, SPA 1987.   Angel
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#98

(14-02-2024, 04:35 PM)PapaofGags Wrote:  McLaren urge FIA to act on key Red Bull relationship with ‘wider F1 interest’ highlighted.  (PF1)

Zak's not letting up   Wink

I don't have much time for Zak Brown, but on this one I agree 100%. Second teams should be banned outright.
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#99

Horse... Barn Door... Timing!!!!!
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