Published on November 16th, 2021 | by Subhash Nair0
McLaren Confirms Audi Did NOT Buy Their Formula 1 Team
McLaren says it has not been sold to Audi or BMW… yet.
Rumours have been spreading this week that the McLaren Formula 1 team has been purchased wholesale by Audi in order to facilitate the VW Group’s entry into the motorsport discipline. Now, McLaren Group has issued a statement saying that the story is wholly inaccurate.
Rumours Surrounding McLaren Buyout
This piece of ‘news’ has taken on a number of forms. One of the rumours pointed toward BMW Group buying McLaren. BMW has never brought a supercar to market and the closest it has come to this is with the hybrid BMW i8. However, many will remember that the legendary McLaren F1 used a BMW motor with extensive modifications. This rumour pointed toward BMW Group acquiring the supercar division, known as McLaren Automotive only. It would have enabled BMW Group to expand its current reach beyond Rolls Royce’s high-end luxury, MINI’s lifestyle luxury and BMW’s conventional products. This rumour though was quickly shot down by BMW.
In this earlier version of the story, McLaren’s Formula 1 team would be purchased by Audi. This would grant the brand with four rings an entry point into Formula 1, which VW Group has recently decided to enter.
With the BMW Group rumour put to rest, Autocar reported that it was VW Group who would be wholly acquiring McLaren Group and both its automotive and motorsport divisions. This would allow Audi to directly take on their rivals in the consumer space, Mercedes with a competitive car and team.
However, it looks as if even that rumour may have no truth to it. A recent statement by McLaren Group reads thusly:
“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.”
McLaren had a shaky 2020 due to the coronavirus and tried to sell their headquarters to raise capital. Just last month, McLaren Automotive CEO of 8 years Mike Flewitt stepped down with no successor named as of yet.