The coronavirus pandemic has dealt a severe blow to the British automaker. The McLaren Group has been in serious financial difficulties these last two years and, as we have just learned, Audi is their salvation. It’s official, Audi buys McLaren and the German company will take full control in the return to Formula 1 from 2026.
Last year, McLaren car sales decreased by 64%. The company’s operating loss was no less than 222.9 million pounds, about 261.6 million euros at the current exchange rate. As a result of this financial crisis, the manufacturer was forced to lay off a whopping 1,200 workers.
That is why it did not take long for rumors to appear online that Audi and BMW were interested in taking control of the brand. Finally, as revealed from Coach, the agreement is official and it will be the signature of the four rings that will take control of the McLaren Group. For now, the details of the transaction and its implications are unknown.
Why did Audi buy McLaren?
It’s no secret that the VAG Group has been around for some years looking forward to getting into Formula 1. The problem is that the investment in technology necessary to enter the premier category prevents them from doing so by creating a team from scratch. That is why the purchase of the McLaren Group gives them everything they need to make their dream come true.
While Audi’s first offer was rejected by the Group’s majority shareholder, Mumtalakat Holding Company, the VAG Group has not given up. According to the source, Audi has doubled the offer, which has finally been accepted. Thanks to this, the German brand takes control over McLaren Racing, McLaren Automotive and McLaren Applied (technology division).
This will allow Audi to make the leap to Formula 1 with the guarantees provided by an already consolidated team. What is not entirely clear for now is if they will do it as an integral team or just as a motorcyclist associated with McLaren. Apparently, the Volkswagen Group is also evaluating the entry into F1 of Porsche as a driving partner of one of the existing teams.