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Chinese consortium to spend £1.65 Billion on McLaren

Tuesday, 15 Nov 2016 16:17   |   By Mei Zhu

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On November 12th, according to Sky News, it was reported that a Chinese consortium has launched a bid to acquire the British sports car maker McLaren. The price reached £1.65 billion, equivalent to about 14.14 billion yuan. In addition to producing the world's top sports car, the McLaren Group also own a world-renowned F1 team.

In comparison to the cost of acquiring a football club, it would be several times more expensive to purchase McLaren. For example, the Suning Group spent about 2 billion yuan on purchasing shares in the famous Italian club, Inter Milan. 

Compared to a football club, the McLaren's F1 team spends an amazing amount of money annually. The annual cost of a large team like McLaren is over £100 million. Two months ago, it was rumoured that Apple planned to spend £10-15 billion on the acquisition of McLaren. Both sides have denied those rumours.

Since F1 racing came to China, it has not been popular. Some people consider that this is because F1 lacks local teams and local drivers. It cannot be popular without a Chinese element. It is the main reason why the Chinese audience has paid little attention to it. If the Chinese consortium really does succeed in acquiring McLaren, F1 is likely to arouse the enthusiasm of the Chinese audience.

Proofread by Sean O Diobhilin

Tags: investment,F1

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