He denies that the team was at risk due to the company’s financial problems

They hope to resume the works of the wind tunnel as soon as possible

McLaren CEO Andreas Seidl says McLaren’s continuity was not at risk due to the Group’s lack of liquidity due to covid-19.

McLaren’s delicate economic situation was exacerbated by the covid-19 crisis and the company was forced to seek new financing to survive. Despite the urgent need for liquidity that made the company go to court, Andreas Seidl says that McLaren’s continuity in F1 in 2021 was never in doubt.

“Zak and I knew the same thing about what was happening and there was no risk of not being able to continue, so never doubted McLaren was on the grid next year“Seidl has commented in statements published by the American web portal Motorsport.com.

McLaren will remain in F1 thanks to a loan from the Bahrain National Bank this week. “It was about finding the best financing option to overcome this crisis and making sure that we are in the best position after this crisis. It was only a matter of time,” said Seidl.

In addition to the consequences in terms of layoffs, the covid-19 has paralyzed all the projects that McLaren had underway, such as the construction of a new wind tunnel. The end of the work was scheduled for mid-2021, but the pandemic forces them to extend the deadlines. Despite the delay, Seidl hopes to resume this and other projects as soon as possible.

“At the beginning of the crisis we simply had to stop all the projects we were working on. Even now we do not know anything concrete about this year’s income. We still have to exercise caution in that regard and simply wait until we have the green light to resume our projects, “said Seidl.

We are working to take action on infrastructure as quickly as we can. I feel quite optimistic that when we overcome this crisis, we will retake our infrastructure as well, “said McLaren CEO to close.

If you want to read more news like this visit our Flipboard