Well, let me tell ya, them big car folks at McLaren been havin’ a real tough go lately, real tough, I’m tellin’ ya. You know, they make them fancy cars and all, but seems like the money just ain’t there like it used to be. The whole mess started back when that Covid hit, and boy did it knock ‘em off track. They had to stop makin’ cars for a bit, shut down all that race stuff, and ya know, them rich folks weren’t buyin’ cars like they used to neither. It’s been like that ol’ snowball goin’ downhill – just pickin’ up problem after problem.
So, what they end up doin’? Well, the McLaren folks had to go and get some real help from this big money fund from Bahrain called Mumtalakat. Now, Mumtalakat’s this sorta fancy name for the Bahrain government’s big ol’ piggy bank, if ya know what I mean. And boy, they been helpin’ McLaren out again and again. They bought up every last bit of McLaren just to try and keep it from goin’ belly-up, like buyin’ out the whole darn thing – lock, stock, and barrel!
Now, let me tell ya, that wasn’t the first time McLaren needed cash. No sir. They even had to sell their big, shiny headquarters in Surrey. Yep, sold it and then turned around and started payin’ rent just so they could keep workin’ in their own buildin’. Ain’t that somethin’? It’s what they call a “sale-and-leaseback.” Sounds fancy, but it’s just a way of raisin’ cash when ya ain’t got it.
And that ain’t even the end of it. Them McLaren folks even sold a whole part of their business, the one they called McLaren Applied Technologies. Now, I don’t know much about technology stuff, but from what I heard, they were sellin’ some kinda fancy tech to other big companies. But they had to sell it off to get some cash. Gotta do what ya gotta do, right?
Then came this new group called CYVN Holdings from Abu Dhabi. They stepped in and said, “Hey, we’ll buy McLaren Automotive.” Now, I ain’t no financial expert, but sounds like they’re plannin’ to buy the whole part of McLaren that makes them fancy cars. And if I heard right, it’s one of them non-bindin’ deals, meanin’ they could still back out, but they’re pretty interested in it. Them oil folks from Abu Dhabi got deep pockets, so maybe they can keep things rollin’ for McLaren, at least the car-makin’ part.
So what do we got here? We got McLaren strugglin’ to keep goin’, sellin’ off this and that, borrowin’ money like there ain’t no tomorrow, just to stay alive. But now that Mumtalakat’s got the whole kit and caboodle, maybe they can make somethin’ work. They’re probably hopin’ they can get McLaren back on its feet, but who knows? Sometimes once the debt starts, it’s mighty hard to shake it off, even for them big car folks. And ya know, folks still like them McLaren cars and all, so maybe there’s still some hope down the road.
Well, there ya go. That’s the tale of McLaren and all its ups and downs. It ain’t all bad, I guess, but it’s lookin’ mighty tough for ‘em. Here’s hopin’ they pull through, but only time’ll tell if all these big-money folks can save McLaren from hittin’ rock bottom.
Tags：[McLaren, bankruptcy, financial troubles, Mumtalakat, CYVN Holdings, McLaren Automotive]
