diffuser wrote: ↑13 Dec 2020, 05:32
mwillems wrote: ↑13 Dec 2020, 01:08
diffuser wrote: ↑13 Dec 2020, 00:33
Not sure that is good news. Is diluting your shares for cash, cause you need the cash good news?
If you need cash, yes.
The team has run at a loss for a while now, so sharing the profits in the future seasons won't be much of a hardship. Trading that against liquidity for automotive is a good deal.
It just like another loan. They end up owning less of McLaren. It isn't good news. They're getting poorer. Just like selling your car to make ends meet isn't good news. It is better news than nobody wanting to buy your car though.
From my understanding, it only concerns McLaren Racing, for what will be, though fairly significant, still a minority stake (one third). It’s the times we live in, unfortunately, COVID-19 is not just killing people. But if you can get someone to invest in your business, rather than see it go into administration, it’s a better deal. I’d like to research more on the group involved in this, but scanning through, it seems they’re experienced in sports team ownership and management in the US. Hopefully, it turns out alright.
Q: (Stefano Mancini – La Stampa) Kimi, will you help Vettel to win his championship this year?
Kimi Raikkonen: I can only drive one car, obviously.
@2018 Singapore Grand Prix drivers press conference.