On Monday, when the team unveiled a 2023 vehicle commemorating their 60 years of operation, chief executive Zak Brown said that the McLaren Formula One team was back in the black financially and cashflow positive.
If the past world champions were “possibly a money-making machine,” the questioner said “The American responded with caution given the rise in popularity of Formula One, especially among American viewers.
I'm not familiar with money-making machines, but our Formula One team is currently profitable “said he. “When we began our most recent adventure, we were losing far north of 100 million pounds ($121.25 million).
“We are quite lucky to have acquired additional shareholders, since doing so allowed us to carry out activities like using the wind tunnel and the simulator. We have the best collection of corporate partners in all of motorsports, and we are cash flow positive.
From a financial viewpoint, we are in excellent shape and have all the means at our disposal to regain the lead.”
In 2018, as part of a significant reorganization of the second-most successful team in the sport in terms of victories, Brown was appointed chief executive of McLaren Racing.
A new wind tunnel is scheduled to start operating in the middle of the year, and the team anticipates a significant improvement in performance.
The Bahraini sovereign wealth fund Mumtalakat has a controlling stake in the McLaren Group, which also comprises the supercar manufacturer. McLaren Racing is a member of this group.
With Australian rookie Oscar Piastri, 21, replacing compatriot Daniel Ricciardo and teammate Lando Norris from the United Kingdom, the team, which placed fifth overall last season following fourth in 2021, has set a goal to finish in the top four this year.
The team has the youngest roster on the grid, and despite his youth, 23-year-old Norris, who is ready to begin his fifth season, is anticipated to assume a more significant role both on and off the track.
Surely Lando is prepared to handle this duty at this point, “Andrea Stella, the new team's principal who was elevated when Andreas Seidl left for Sauber, was quoted as saying.
Despite not having won a grand prix, Norris said he was prepared to take the lead.
Since I have a little more experience in Formula One and with the McLaren team than Oscar has, I can utilize that experience a little more than Oscar does. I certainly have more obligation to uphold this season “said he.
“I am the one who most likely feels at home right now.”
To commemorate the anniversary of New Zealander Bruce McLaren's foundation of McLaren Racing in 1963, the papaya orange and blue vehicle has been given the designation MCL60, departing from customary naming procedure.
