This archive report was first published on 1 July 2020.
McLaren has secured a significant financial boost with a £150 million loan from the Royal Bank of Bahrain, paving the way for the team to resume work on several halted projects, including their new wind tunnel.
The loan, worth Sh19.8 billion, comes after months of exploring different options, including the potential sale of a minority stake in the McLaren Group company.
McLaren's financial struggles have been a major concern, but with this new cash injection, the team is now focused on getting back to full operational capacity in all areas.
According to team principal Zak Brown's counterpart, Seidl, the team had to put all infrastructure projects on hold at the beginning of the crisis. However, with the loan in place, they are now pushing hard to get these measures in place as quickly as possible.
Seidl emphasized the importance of getting back on track with their infrastructure, citing a deficit compared to the top teams in Formula 1. He expressed optimism that once they overcome the current crisis, they will be able to get back on track with their infrastructure and make progress in the championship.
Despite the turbulent start to the year, McLaren's plans for the 2020 and 2021 campaigns remain largely unaffected, with the team looking to build on their P4 finish in the 2019 Constructors' Championship.
