McLaren News

Dennis tables £1.65m Chinese bid for McLaren

According to Sky News, McLaren boss Ron Dennis has presented a Chinese bid to takeover the team amid uncertainty over his own future at the team.

A number of different investors have been linked to McLaren this season, including the high profile link with Apple. The American technology giant is said to have shied away from investing in either the team or Formula One, with now an indication it could be the Chinese who would make a move in taking over the automotive group.

The report from Sky News said: ‘A consortium of Chinese investors has tabled a £1.65bn takeover bid for McLaren, the British automotive group which owns the eponymous Formula One (F1) team, sparking a battle over the future of Ron Dennis, its long-serving boss.

‘Sky News has learnt that Mr Dennis presented the offer for McLaren from a group of unidentified investors ‎last week, a move which prompted his fellow shareholders to launch a plot to oust him as chief executive.

‘Sources said that Mr Dennis‎ was in the High Court on Thursday and Friday in an attempt to secure an injunction against a move to place him on gardening leave until his contract expires in mid-January.

‘His move, however, is understood to have been rejected, leading to an emergency board meeting of McLaren being convened on Friday evening that is expected to lead to his immediate suspension as chief executive.’

About the author

Ashley Quint

Ashley founded the Purple Sector website back in 2012, later renamed to SpeedMajor which now covers both Formula 1 and Formula E. As well as writing on Formula 1, Ashley also works within the world of luxury travel and was a finalist in the Aspire Travel Trade Writer of the Year competition in 2013.

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