News Details
McLaren Racing posts reduced £71 million loss
McLaren Racing reported a £71.4 million ($98.9m) loss for the 2019 financial year, which was £13m ($18m) less than the £84.4m ($117m) loss is posted in 2018. The team saws its revenues accelerate by 50 per cent from £123m ($170.4m) to £185m ($256.4m), driven by increased sponsorship and prize money income after the team finished sixth in 2018, compared to 2017 when it finished a lowly ninth – prize money is paid a year in arrears. The team also raised £6.7m by selling some of its heritage cars to 'specialist collectors around the world', though this is less than the £10m it raised in 2018 from the same practice. It still holds some 159 cars in its heritage collection, valued at...
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4y ago from MotorsportWeek.com
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