SM
Newcastle vs. Arsenal: 2 hrs 57 mins
Upcoming predictions and previews

Team boss denies McLaren at risk of collapse

:Headline: Team boss denies McLaren at risk of collapse : ID:404591: from db_amp
Team boss Andreas Seidl has denied that McLaren could have collapsed financially in 2020.

Team boss Andreas Seidl has denied that McLaren could have collapsed financially in 2020.

Recent London High Court documents showed that the Woking based team required a huge cash injection to avoid insolvency within the month of July.

This week, it emerged that a $185 million loan has been secured from the National Bank of Bahrain, which is partly owned by McLaren's Bahraini shareholders.

It raises the question as to whether the team informed Daniel Ricciardo about its money problems before the Australian decided to sign up for 2021.

"As always, I am direct and transparent, as is Zak (Brown)," Seidl told German-language reporters.

"We had an open discussion and Daniel was informed about what was going on. But we never had any doubt about McLaren being on the grid next year.

"Of course it has been a difficult period, but I was in constant contact with Zak and we always looked for the best investment options to put us in a good position."

However, McLaren has had to shed staff, and it emerges that the scheduled wind tunnel and driver simulator investment projects were also scrapped.

"Really, it does not affect anything for this year or next," Seidl insists.

"At the beginning of this crisis, we had to stop all infrastructure work and even now, without knowing what our income will be this year, we must be cautious.

"As you can imagine, I am insisting that everything gets going again as soon as possible, as we have a deficit compared to the big teams," he said.

amp_article__404591 : Database Data restored...  : 
last updated article - 2020-07-01 07:58:13:
html db last update - 2020-07-01 07:58:13 :

ex - 7200 : read : read cache amp html

Click here for more stories about Andreas Seidl

Click here for more stories about McLaren

Share this article now:
Recommended Next on SM
Premier League Table
TeamPWDLFAGDPTS
1Manchester CityMan City97202091123
2Liverpool97111751222
3Arsenal95311710718
4Aston Villa95311611518
5Chelsea95221911817
6Brighton & Hove AlbionBrighton94411612416
7Nottingham ForestNott'm Forest9441117416
8Tottenham HotspurSpurs94141810813
9Brentford94141818013
10Fulham93331212012
11Bournemouth93331111012
12Newcastle UnitedNewcastle9333910-112
13West Ham UnitedWest Ham93241316-311
14Manchester UnitedMan Utd9324811-311
15Leicester CityLeicester92341317-49
16Everton92341016-69
17Crystal Palace9135611-56
18Ipswich TownIpswich9045920-114
19Wolverhampton WanderersWolves90271225-132
20Southampton9018619-131
Scroll for more - Tap for full version


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
AL
Sign up for our FREE daily preview newsletter direct to your inbox!

Loading ...

Failed to load data.



. . . . . . . . . . . . . . .