McLaren expect tough time

Eurosport - Mon, 08 Dec 11:35:00 2008

McLaren expect their revenues to fall by more than a third as a result of the global economic crisis, according to the Formula One team's boss and co-owner Ron Dennis.

FORMULA 1 Ron Dennis - 0

"Our budgets come from the advertising budgets of the companies that support us, and inevitably advertising budgets get slashed or at least are significantly trimmed in times of economic strife," Dennis told the Observer.

"We know we have to reduce our costs to cater for the inevitable downturn in income that is coming in 2010 and 2011," he added in an interview that the Sunday paper said took place before Honda announced that they were pulling out of the sport.

"We predict that our turnover will drop from £280 million a year to as low as £175m," said Dennis.

McLaren are 40 per cent owned by Mercedes with 30 per cent in the hands of Bahrain's state-owned Mumtalakat holding company and the remainder shared equally between Dennis and Saudi business partner Mansour Ojjeh.

Their main sponsors are telecoms giant Vodafone and Spanish bank Santander.

The team won their first Formula One title since 1999 this season, with Britain's Lewis Hamilton becoming the sport's youngest world champion at the age of 23.

McLaren are the second most successful Formula One team after Ferrari in terms of races and titles won but they also own a group of companies and Dennis has said he wants to diversify their activities further.

"If you look back in history, you see clear examples of teams that have stayed unique to Formula One that have just failed," he told reporters in Brazil in November. "You cannot sustain a Formula One team indefinitely, you need to diversify."

Mercedes motorsport head Norbert Haug said on Friday that Formula One teams must cut costs by at least 50 percent over the next two years.

However he said Mercedes' own financial position remained solid.

"Mercedes-Benz's contribution is cost-efficient, the resonance in the media and in the public which last season and Lewis Hamilton's win generated was worth many times our financial investment," he said.

Reuters

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  1. chtech06 the way things going for Honda F1 they would­ have to give a pound of flesh to get anyone­ interested.Why carry on with losing team THEN, when­ they could have pots of dough if they restarted now I­ keep asking myself.

    From wizzo, on Mon 8 Dec 4:02PM

  2. A few pence worth of carbon fibre spring which­ presumably raised the body a little at low speed­ enabling faster speed over kerbs similar action of­ trick damper Renault.

    From wizzo, on Mon 8 Dec 3:14PM

  3. It was other people that forward the idea that it was­ possibly a form of mass damper.

    From BigBill, on Mon 8 Dec 3:06PM

  4. wizzo from what I remember mouron said that the ferrari­ had a carbon fibre spring in the floor which made it go­ much faster. And that's a good explanation?

    From BigBill, on Mon 8 Dec 3:05PM

  5. Wizzo. Know of anyone looking for a Honda?. They could­ buy a whole team for a pound.

    From chtech06, on Mon 8 Dec 3:03PM

  6. Sorry had to run of guys as business called surprised­ at massive reaction.Cant answer you all but will say­ Touron is just a kid that acts like some others but he­ has a good few points,ie the hotly debated red moving­ floor which he has explained like no one else on­ here.Dont kick the kid too much.You guys gave me luck I­ just sold two Mercedes!!

    From wizzo, on Mon 8 Dec 2:58PM

  7. i think Hamilton crashes more than kovi, Kovi is just­ @#$% slow haha

    From pond.simba, on Mon 8 Dec 2:52PM

  8. oh yeah, with the Germans shareholder willing to save­ money and the Arab shareholders worried by oil prices­ arouns 45 $, Dennis the crook will have a hard time to­ fill the budget
    I hope he is taking in account the cost­ of repairing all the walls that Kovalainen will destroy­ during the next season...

    From golf in the kingdom, on Mon 8 Dec 2:18PM

  9. Tonka. His wife ran off with the dog!!.I think what did­ it was when he told her only cheats win anything. So­ she cheated with Zak I don't think zak drives a­ merc, so I can't see where he gets the Mercedes­ hatred from.

    From chtech06, on Mon 8 Dec 2:14PM

  10. --I N V A L I D ----R.,sole scots C.-unt
    must be­ banned for her vile untrue vicious hoard of jealous­ envy
    all INVALID

    From iigor_k, on Mon 8 Dec 2:06PM

  11. Samana, Wrong Hamilton won 6 and Massa 5, but that­ didn't fit in the Dopey & Spanky's plans so­ they swapped one over.
    Massa got 14 points handed to­ him by the FIA and still couldn't win. Live with­ it.

    From Mike, on Mon 8 Dec 1:54PM

  12. Hamilton wins 5 races
    Massa wins 6races
    yet Hamilton is­ given the world Championship!!
    What a Swindle!!

    From Samana, on Mon 8 Dec 1:42PM

  13. Bit unfair calling his wife an old dog, she might be­ very pleasant. Must have a sense of humour living with­ that p.r.a.t.

    From Tonka, on Mon 8 Dec 1:19PM

  14. mouron's probably out walking his dog right now­ trying to decide which one of us to duplicate next.

    From ginger_gitt, on Mon 8 Dec 11:59AM

  15. Wizzo I think that Clispy didn't think anyone took­ the mouron seriously. And then along you come and did­ the unexpected.
    The floor moving concept that mouron­ referred to was illegal but ferrari were not penalised.­ THAT IS THE TRUTH.
    mouron cuts & pastes from­ various sources and edits key phrases so if you are­ going to quote him please be careful.

    From BigBill, on Mon 8 Dec 11:48AM

  16. #62 proves it .Welcome back Mouron. Did she take Zak ?.

    From chtech06, on Mon 8 Dec 11:45AM

  17. he expected us to believe that Scottish refers to­ mouron as "That bloke in the know" not even­ stiv would say that and he's brain-dead. But I­ suppose wizzo might.

    From BigBill, on Mon 8 Dec 11:44AM

  18. I actually enjoyed his impersonation of Scottish,

    From BigBill, on Mon 8 Dec 11:43AM

  19. Perhaps Mouron is re-incarnated as Wizzo.

    From chtech06, on Mon 8 Dec 11:43AM

  20. clispy look at the facts which cannot be plainer than a­ streaker at a cricket match.Elegebility is not exactly­ your strongest forte at times,indeed a little red mist­ clouding the senses is evident.Some mcl and red fans go­ over the top and that is normal! But only a fool would­ tar ALL fans with the same brush as the most extreme.

    From wizzo, on Mon 8 Dec 11:41AM
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