Rumours: Audi has purchased McLaren

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Rumours: Audi has purchased McLaren

#1

Post by Mawerick »

edit: it seems this was already mentioned in the engine thread, but I think it warrants its own topic.

https://www.autocar.co.uk/car-news/busi ... la-1-entry
Autocar source reports that Audi has bought McLaren in a deal that gives the German manufacturer complete control over the whole group and secures it an entry into Formula 1.

The change of ownership should secure the future of McLaren, which has been operating under heavy financial pressures despite an injection of capital late last year following a refinancing worth up to £500 million. It is unclear whether the latest development is linked to the recent departure of McLaren CEO Mike Flewitt, who stepped down from his role after eight years last month.

McLaren stated there has been no change at a management level, while an Audi spokesperson had no official comment to add at this stage.

The takeover gives Audi access to another supercar brand alongside Lamborghini, which it controls. It also opens up the possibility of Audi engines powering McLaren. It will not, however, give Audi control of McLaren Applied, the arm of the group that specialises in electrification systems for both road and track, as that was sold to a private investment group earlier this year.

It is unclear what the implications of any Audi-McLaren tie-up would be on the now-finalised partnership between Rimac and Bugatti, which has been devised with the aim of developing all-electric successors to the Nevera EV hypercar and the soon-to-be-retired Bugatti Chiron.

From an F1 point of view, the deal ensures the Volkswagen Group, which owns Audi, now has direct access to an entry into grand prix racing. Volkswagen has been involved in discussions over the specification of a new F1 powertrain due for introduction mid-decade and has been openly considering a commitment to the pinnacle of motorsport.

The deal does not necessarily close the door on a Porsche entry to F1, either. The Audi sibling brand is also considering a return to F1, as new motorsport boss Thomas Laudenbach told Autocar recently.

It is thought the most likely route for Porsche into F1 would be as a powertrain partner to an existing team, with Red Bull – which is currently building its own independent powertrain department in Milton Keynes – considered to be the most likely option for such a deal.
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#2

Post by MonteCristo »

That's a lot of coin to drop on something that they'd no doubt abandon after 5 years anyway.
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#3

Post by Cheeveer »

I'll believe when I see it.

https://www.mclaren.com/racing/inside-t ... ment-sale/
McLAREN GROUP STATEMENT
Update regarding news media report

McLaren Group is aware of a news media report stating it has been sold to Audi. This is wholly inaccurate and McLaren is seeking to have the story removed.

McLaren’s technology strategy has always involved ongoing discussions and collaboration with relevant partners and suppliers, including other carmakers, however, there has been no change in the ownership structure of the McLaren Group.
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#4

Post by Everso Biggyballies »

I wasnt expecting that tbh.

EDIT I had not heard re the McLaren comment, and just read it after I posted my thoughts. As I mention also, when I checked the Group website I saw nothing about any proposed deal, as mentioned in my rambling below.
----------------------------------------
What I said prior to reading the denial:

It will be interesting to see what happens at senior management levels, and whether the Bahrain Govt will retain any share. Re the latter I would imagine not, beyond perhaps buying a few truckloads of VAG shares. I imagine (and hope) Seidl will remain.... after all he left the VAG Group (Porsche) to join McLaren. As for Zak Brown, well, I would be less confident about his future although I believe he is only CEO of the F1 team.

As an aside Mike Blewett, mentioned in that article as having recently departed as as the McLaren CEO is actually a bit vague. He was the Zak Brown equivalent at McLaren Automotive, the road car division of the group and by a long way the largest part of the McLaren Group.

Interesting also is that McLaren Applied, mentioned in the article as no longer art of the grou having been taken over by / sold to a private investment company, it is still shown (today) on the McLaren Group website as being still part of the McLaren Group.

Equally interestingly only last month McLaren Group announced a major reshuffle at the top....
October 07, 2021
New board appointments support the Group’s long-term strategic growth plans, following successful equity raise and refinancing
Three board representatives appointed from major shareholders Mumtalakat, PIF and the Private Equity and Credit Groups of Ares Management Corporation
Two additional non-executive directors appointed with significant industry experience from leading global automakers
McLaren Group announces the appointment of five new non-executive directors, bringing significant additional experience and expertise to the Group’s board. The appointments reaffirm confidence in McLaren's long-term growth strategy following the successful equity raise and refinancing earlier in the year.

The new board members will help drive the Group's long-term strategic growth as McLaren continues its strong post-Covid recovery and looks ahead to the first customer deliveries of the McLaren Artura – the lightweight high-performance series hybrid supercar.

Paul Walsh, McLaren Group Executive Chairman, said: “I am delighted to welcome five new members to McLaren Group’s Board, each of whom will bring significant global business and automotive experience. Their appointment further strengthens McLaren Group’s highly experienced and international group of directors.......
Article then details who is involved. No mention of anything Audi or VAG related although they would have known.... a deal of this size is no quick excercise and must have been in negotiation for some time. (
https://investors.mclaren.com/investors ... pointments

I would suggest that many of those new board members wont be there for long as they are all investors in the Group as it was pre VAG. Paul Walsh the Group Exec Chairman would likely be a casualty as VAG will have their own vision.... they are not buying it as an investment.

They are buying a Brand name, and an automotive company that will compliment their existing business, with McLaren Racing being VAG's avenue and ticket into F1.

Will be interesting how it all pans out. As an F1 team I doubt if that would involve Mercedes as an engine partner! :haha: More likely the works engine side of any F1 engine that Porsche , Audi or whatever of their brands becomes the F1 engine side. This is probably not good news for Red Bull Powertrains who were rumoured to be embarking on an F1 engine alignment and development deal in an official works arrangement like they had with Honda. That team would seemingly obviously now be McLaren for that liaison, being now alleged to be part of VAG.

Im sure a lot of info will be forthcoming in the next days and weeks and pieces of the puzzle will all fall into place.

No mention of anything on the McLaren Group website as yet. https://www.mclaren.com/group/.

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#5

Post by Cheeveer »

edited the thread title
***Some say you should live each day like it was your last... but who wants to live each day in wild panic and extreme death anxiety?

The universe, look at the hugeness of it... it is a dizzying thought that little ol' me is the centre of it all!***
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