McLaren's Brown says they have moved past bad times
August 9, 2020
Sport

McLaren’s Brown says they have moved past bad times

SILVERSTONE (ENGLAND) – McLaren declared they are in good financial shape after a shaky start to a year hit by the COVID-19 pandemic, the Formula One team’s chief executive Zak Brown said at the British Grand Prix.

The team has also announced fresh sponsorship deals, including one with former partner Gulf Oil, Brown added that more deals are in the pipeline.

Brown said, “I think we’re in quite a good position now.”

“The bad news is behind us, as far as it relates to all the stuff that played out the last couple of months. We’re financially healthy.

“I think we’re benefiting from being aggressive and playing offence when COVID hit as far as recognising the severity of the issues it was going to cause for the sport and for us, and so we ran towards the problems to try and address them quickly.”

British-based McLaren, which was the first team to lay off staff due to the pandemic, and infrastructure projects were also suspended but since re-started.

The team also declared they are open to signing a new commercial agreement with the sport’s owners Liberty Media and the governing FIA.

Australian driver Daniel Ricciardo has been signed from Renault for the year 2021, who would be seen in place of Spaniard Carlos Sainz. Carlos would be moving to Ferrari, alongside young Briton Lando Norris who grabbed his first F1 podium in Austria last month.

“We’re now exactly where we want to be,” said Brown.

“Looking forward I think we’re sitting on a better business model for Formula One and for McLaren for the next journey of F1. So we’re in quite a good spot, and spirits are high.”

(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.

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