McLaren is looking to raise £275 million of just over $335 million from this deal.
Some of the cars include ones driven by the late great Ayrton Senna.
This move comes following a rejected loan request from the British government.
The Coronavirus pandemic continues to rock the automotive industry. Even giants like Volkswagen have themselves forced to re-idle some plants due to near-inexistent demand. McLaren, a microscopic supercar company, by comparison, is also in trouble. In order to raise between £250- and £275 million in capital, the car company is seriously thinking about putting up its beautiful Woking HQ and its incredibly valuable car collection up as collateral.
Back in March, the company’s shareholders injected £300 million into the company but the effects of the world pandemic are severe. McLaren also attempted to secure a £150 million loan from the government but it was rejected.
McLaren’s headquarters, which cost upwards of £300 million to build, is said to be worth roughly £200 million. The more interesting aspect, by far, is the incredibly valuable car collection which has been evaluated at more than £250 million. Some of the cars in the collection were driven by Ayrton Senna, others include gems like a P1 GTR and a few F1s – some of these cars are worth ten of millions of pounds.
According to the story from Sky News, “The funds would then be repaid “at the earliest opportunity” when revenues recover to normal levels, they added.”
We can’t help but feel a little buggered by this situation.