McLaren could mortgage its priceless collection of historic racing cars and its iconic McLaren Technology Centre headquarters in Woking in a bid to raise funds, according to the BBC.
Like most manufacturers, McLaren has taken a financial hit during the coronavirus crisis, with both sales of its road cars and revenue from its Formula 1 team both taking a substantial hit.
The move comes after McLaren was reportedly rejected furlough support from the government for its 3,000-strong workforce after it was deemed that the company hadn’t explored enough fundraising options.
While McLaren hasn’t commented on the suggestions, a spokesman told the BBC that it was exploring options.
“Like many other British businesses McLaren has been severely affected by the current pandemic and we are therefore exploring a variety of different funding options to help navigate these short-term business interruptions,” the spokesman said.
Loans as high as £300 million…
