Audi buys McLaren Group to secure Formula 1 entry
An Autocar source reports that Audi has purchased the McLaren Group to safeguard future of British supercar brand
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, Autocar understands.
According to a source, McLaren’s executive chairman Paul Walsh was presented with an offer from Audi and took it to the board, which is majority controlled by the Mumtalakat Holding Company, the sovereign wealth fund of Bahrain. It is said the board rejected the first offer, insisted Audi should double it and an agreement to conclude a deal then followed.
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 how 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.
The takeover gives Audi access to another supercar brand alongside Lamborghini which it also controls. It also opens up the possibility of Audi engines powering McLarens, plus it gives the manufacturer control of highly rated McLaren Applied, the arm of the group that specialises in electrification systems for both road and track.
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.
An Audi spokesperson had no official comment to add at this stage, and McLaren has yet to respond to Autocar's request for comment.
From an F1 point of view, the deal ensures the parent Volkswagen Group 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 motor sport.
The deal does not necessarily close the door on a Porsche entry to F1 either. The sister brand is also considering a return to F1, as new motor sport 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.