General
Setback for McLaren: Over £80 million loss
- GPblog.com
McLaren made a hefty loss in 2019, according to the brand's own financial reports. A loss of more than £70 million was recorded. What is hopeful, however, is that that deficit is a lot less than during the previous year.
In 2018, McLaren Racing recorded a loss of £84.4 million. In 2019, however, revenues rose sharply. As much as fifty per cent more came in compared to the previous year. In total, some 185 million pounds was earned.
The fact that things improved in 2019 was mainly due to an increase in sponsorship and prize money revenue. Whereas McLaren finished sixth in the constructors' championship in 2018, it was fourth a year later. In 2020, McLaren finished third in Formula One, so it is likely that the amount will be slightly higher during next year's financial reports.
However, it is likely that the losses will be greater. The coronavirus broke out in 2020 and has had a major impact on McLaren Racing. Director Zak Brown says that the economic situation of the team will remain uncertain in the future.