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

Comment 13 - 32 of 72

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  1. F1 IS ABOUT TEAMS AND ENGINE BUILDERS..ITS WRONG TO­ START CHANGING REGULATIONS AND RULES JUST BECAUSE..SO­ HONDA PULLING OUT YES IS SAD , BUT THEN AGAIN IF THEY­ CANNOT MAKE THEIR CHASSIS AND ENGINE A BETTER­ COMBINATION, THEN BYE BYE HONDA, AND LETS GET SOMEONE­ NEW AND EXICTED ABOUT WHAT F1 IS.AND WHY NOT HAVE 2­ FORMULAS IN ONE?

    From NUNO, on Sun 7 Dec 10:09PM

  2. ginger_gitt. sorry i'm forgetting myself now ,­ misplaced your hyphen

    From touronroute, on Sun 7 Dec 10:06PM

  3. ginger-gitt .Does he really play bingo.

    From touronroute, on Sun 7 Dec 10:03PM

  4. Touronroute, Why you copying me. You know i print the­ true facts,i know you have many friends, but Yup,­ Arn't I Lucky I'm not you.

    From touronroute, on Sun 7 Dec 9:59PM

  5. To the fake Scottish C: Give it up mouronroute. We­ know its you. Do you know its still you? There are­ doctors who can help sort that brain cell of yours out­ you know. It is desperately sad that you have to­ pretend to be someone else in order for you to get­ posts that agree with you.

    From ginger_gitt, on Sun 7 Dec 9:52PM

  6. To the real Scottish C: I can thankfully tell the­ difference between someone with a brain, and someone­ whose head doubles as a Maraca. It shows the kind of­ person he is though – a slightly stupid, elderly man­ with mental health issues, who's only friend is his­ black and white long haired dog and who probably plays­ bingo alot.

    From ginger_gitt, on Sun 7 Dec 9:51PM

  7. Touron posting as me. Yup, Arn't I lucky.

    Bill­ Mac, Ginge, I know you already know, but if I ever­ appear to be agreeing with the halfwit Scottish C, then­ it isn't me posting.

    Touron, I think everyone­ knows you've the lost the debate (and your mind)­ when you need to pretend to be someone else.

    Clown!

    From touronroute, on Sun 7 Dec 9:49PM

  8. Scottish C
    They're out in force this evening. Look­ around!

    From Count Louis Zborowski, on Sun 7 Dec 8:08PM

  9. Touron posting as me. Yup, Arn't I lucky.

    Bill­ Mac, Ginge, I know you already know, but if I ever­ appear to be agreeing with the halfwit touron, then it­ isn't me posting.

    Touron, I think everyone knows­ you've the lost the debate (and your mind) when you­ need to pretend to be someone else.

    Clown!

    From Scottish C, on Sun 7 Dec 8:01PM

  10. MARION.
    It really does look like some of your posts­ have gone!
    Anyway my friend, I'm sure you'll­ soon make up for it!
    By the way. I can't remember­ if I thanked you the other day for helping me with the­ photo thing. If I forgot, thank you.

    From Count Louis Zborowski, on Sun 7 Dec 7:25PM

  11. oh damn it, only 175 million a year now, poor souls,­ try living on 8 grand a year

    From seanbay_3535, on Sun 7 Dec 6:58PM

  12. It's all getting pathetic again!

    From Biffo, on Sun 7 Dec 6:47PM

  13. ginger-gitt, BillMac, we might have to eat our­ words.Touronroute said that in june aston martin has­ bought the last 8% from ford totalling 40 million, it­ could be used by a consortium of three to purchase the­ failing honda.

    From touronroute, on Sun 7 Dec 6:45PM

  14. hello my little f1 bum chums it marion here from peru.­
    mr hamiltons son say he stay with mclaren men for­ life. that nice for him but what do mclaren men say?­ you see mclaren is now german owned. the parent company­ is the mercedes benz which is the german. the engine is­ the german engine. everything about the team is the­ german. mr hamiltons son now the swiss gentleman he eat­ much cheese and sings in the morning at mountains. mr­ hamiltons father is also now the swiss man. in fact­ there nothing british about this team at all. even the­ man who tidy up the garage after the race has moved to­ switzerland with his mother. switzerland is owned by­ the german. my friends the whole team is GERMAN - and­ guess what - so is mr glock. now you see why the time­ stand still for mr glock on the last lap. like he in­ the time warp. not even the people abducted by the­ alien lose the amount of time he lost on that last lap.­ IT IS A DISGRACE!!!

    From , on Sun 7 Dec 6:38PM

  15. RAY WHY YOU BITE SO HARD...LOL

    From , on Sun 7 Dec 6:29PM

  16. MARION NEVER GET ZAPPED...

    From , on Sun 7 Dec 6:26PM

  17. Who zapped MARION?

    From Count Louis Zborowski, on Sun 7 Dec 6:10PM

  18. If a Mclaren on a low downforce set-up can do 350 Km­ per hour, will a cheaper Mclaren achieve, say, 295 Km­ per hour? That may spice up the racing.

    From , on Sun 7 Dec 6:05PM

  19. ginger-gitt , have you lost it.

    From touronroute, on Sun 7 Dec 6:00PM

  20. No Peruvian man would feed his kids.
    The mother does­ that!

    From Count Louis Zborowski, on Sun 7 Dec 5:58PM
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