McLaren has played down the significance of trying to raise funds through selling its famous Woking headquarters.
Last weekend it was reported the company aimed to generate around £200m through the sale of the McLaren Technology Centre which would then see them lease it back from the new owners.
This was in the wake of financial issues earlier this summer due to the impact of Covid-19, which were only eased after securing a £150m loan from the Bank of Bahrain.
There was also a looming court battle with bondholders over plans to refinance by using their historic car collection as collateral as well as reports of selling a stake in McLaren's Racing division.
As for the latest money-raising effort though, the company released a statement insisting the company was not in immediate financial danger.
“The potential sale and leaseback of our global headquarters and the appointment of banks to advise us on a debt restructuring and equity raise are part of the comprehensive refinancing strategy that we announced earlier this year,” they confirmed.
“Building on the shorter-term measures that we put in place over the summer, these initiatives will deliver a stronger balance sheet and ensure that McLaren Group has a sustainable platform for long-term growth and investment.
“The proposed sale and leaseback mirrors best practice among leading companies and will have no impact on our day-to-day operations.”
Also Read:
As for the Formula 1 team, team boss Andreas Seidl also denied any money issues.
“No, that’s simply a part of the refinancing strategy that has been announced earlier in the year of the McLaren group," he said.
"It doesn’t affect our daily business on the F1 side and that’s all really from my side.”
