Thread by @f1newslive_

🚨BREAKING: Audi buys McLaren Group to secure Formula 1 entry according Autocar. [THREAD]

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An Autocar source reports that Audi has bought McLaren in a deal that gives the German manufacturer complete control over the whole group and secures it an entry into Formula 1.

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The change of ownership should secure the future of McLaren, which has been operating under heavy financial pressures despite an injection of capital late last year following a refinancing worth up to £500 million.

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It is unclear whether the latest development is linked to the recent departure of McLaren CEO Mike Flewitt, who stepped down from his role after eight years last month.

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McLaren stated there has been no change at a management level, while an Audi spokesperson had no official comment to add at this stage.

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From an F1 point of view, the deal ensures the VW, which owns Audi, now has direct access to an entry into grand prix racing.

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The deal does not necessarily close the door on a Porsche entry to F1, either. The Audi sibling brand is also considering a return to F1, as new motorsport boss Thomas Laudenbach told Autocar recently.

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Full Article: autocar.co.uk/car-news/busin…