McLaren "never at risk" of not being on the Formula 1 grid
McLaren team principal Andreas Seidl has revealed there was "never a doubt" the marque would not be on the Formula 1 grid despite its recent financial crisis.
On Monday [June 29], it was confirmed McLaren Holdings Ltd had secured a £150million loan from the National Bank of Bahrain that eases the company's financial position in the short- and mid-term, allowing it to continue with its core activities and pursue additional funding options.
Despite what appeared to be a grave situation for McLaren, with 1,200 redundancies from a 4,000-strong workforce also announced, Seidl, speaking during an invited media conference call, with GPFans included, said: "I've been asked if I was worried a lot about the financial situation at McLaren.
"Of course, it was a tough period, but at the same time I'm in permanent exchange with Zak [Brown, CEO] so I knew what was ongoing on the financial side.
"In the end Paul Walsh, our chairman, together with the shareholders, was simply looking for the best possible option in terms of funding, or finding the right funding, to not only get us through this crisis, but also to put us in the best possible position to be competitive in the future, and so I'm very happy with the news from yesterday."
Seidl added: "With Zak and I having detailed knowledge of what was going on, we were not at risk of not being able to continue. There was never a doubt of McLaren not being on the grid next year."
Seidl has confirmed updates to the car will be done on a regular basis throughout the course of the season, which begins in Austria this weekend, while plans for the integration of the Mercedes power unit for next season are also unaffected.
"We are on course with the plan we set out in the winter. We are planning to bring updates regularly from Austria onwards on the car, and at the same time, we are flat out getting next year's car ready, with the biggest topic being the integration of the Mercedes power unit.
"At the beginning of this crisis we had to put on hold all the infrastructure projects we were working on, and even now, with not knowing what the income will look like this year, we are still cautious there, and we have to wait until the green light there again.
"As you can imagine I'm pushing hard to get the infrastructure measures in place again, and as quickly as possible, and we all know this will be key on our journey back to the front because we have a deficit there compared to the top teams.
"With Zak, I am quite optimistic that once we are through this crisis we can get back on track with our infrastructure as well."
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.
We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.