Audi Reportedly Tried To Buy McLaren In Order To Gain Access To Formula One - story fullscreen Fullscreen

Audi Reportedly Tried To Buy McLaren In Order To Gain Access To Formula One

Did Audi really buy McLaren? The German Automaker Reportedly Made An Offer On The British Carmaker, But Was Initially Turned Down

For a while, we have been hearing about Porsche and Audi planning to enter Formula One. Volkswagen has been trying to find ways of gaining a foothold in the F1 racing series, since 2010 and now, the German automotive giant might finally be on to something. With recent, false reports of Audi’s acquisition of McLaren, we deemed it wise to shed light on matters.

Audi Reportedly Tried To Buy McLaren In Order To Gain Access To Formula One
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According to Autocar, Audi did, indeed, make an offer to McLaren, but was turned down. Currently, the Mumtalakat Holding Company is a major shareholder in McLaren, effectively controlling it and its Formula One team. Initially acquiring 15 percent of McLaren, the wealth fund of Bahrain currently owns 62.55 percent of the shares.

After turning down the initial offer of the four rings, McLaren’s board of directors told Audi to double the amount. While no specific details are available, McLaren representatives say that the company will not be changing hands. Moreover, McLaren’s PR Manager, Laura Conrad stated that “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”, in an update regarding the news media report.

Audi Reportedly Tried To Buy McLaren In Order To Gain Access To Formula One
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This disputes another false rumor that BMW was supposed to acquire the road car side of McLaren, while Audi was to take over McLaren’s motorsports division. A BMW spokesperson was quick to dismiss the rumor as false in an interview with Bloomberg, while an Audi representative stated that Audi “routinely considers various ideas for cooperation” as part of its “strategic deliberations”.

Audi Reportedly Tried To Buy McLaren In Order To Gain Access To Formula One
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With that being said, something is definitely brewing at McLaren, as the brand’s CEO, Mike Flewitt, steps down after eight years, in search of a successor. The Woking-based company is definitely in need of financial resources, as it had to sell and lease back its headquarters. This is also the main reason McLaren has not joined the SUV party yet. With that being said, “strategic cooperation” might be what this is all about. At this point, however, nothing is set in stone and we are awaiting future updates on the matter.

Source: DriveTribe

Dim Angelov
Dim Angelov
Born in 1992, I come from a family of motoring enthusiasts. My passion for cars was awoken at the age of six, when I saw a Lamborghini Diablo SV in a magazine. After high school I earned a master’s degree in marketing and a Master of Arts in Media and Communications. Over the years, I’ve practiced and become skilled in precision driving and to date have test driven more than 250 cars across the globe. Over the years, I’ve picked up basic mechanical knowledge and have even taken part in the restoration of a 1964 Jaguar E-Type and an Alfa Romeo Giulia Sprint. Lately, I’ve taken a fancy to automotive photography, and while modern cars are my primary passion, I also have a love for Asian Martial Arts, swimming, war history, craft beer, historical weapons, and car restoration. In time, I plan my own classic car restoration and hope to earn my racing certificate, after which I expect to establish my own racing team.  Read full bio
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