Times are a-changin
DEVELOPMENTS: VETTEL OUSTS SURPRISED PEREZ, MCLAREN FEELS PINCH
Bizarre Mugello race sees just 12 cars crossing the finish line.
Last Sunday was interesting, watching an ever-diminishing field of Formula One cars apparently practicing how not to get the drop on competitors during rolling starts, while perfecting their standing starts.
It was also a useful training exercise for staff of the Mugello circuit in removing wrecked cars, large amounts of debris and rebuilding barriers.
In between, there was actually a race, which resulted in just 12 cars crossing the finish line – bizarre.
The major revelation last week was the change of driver line-up for next year’s Aston Martin F1 team, with Sebastian Vettel replacing Sergio Perez.
The Mexican was surprised, as he was still negotiating with the current Racing Point Team, having previously signed a three-year contract in 2019.
A sign of the times and a result of Covid-19, McLaren has announced the company’s Woking Technology Centre is on sale for £200 million (about R4.29 billion).
Once successfully sold, McLaren will lease the buildings from the new owners in a bid to stabilise the company’s finances.
A McLaren spokesperson said: “The potential sale and leaseback of our global headquarters and appointment of banks to advise us on a debt restructuring and equity raise are part of the comprehensive refinancing strategy we announced earlier this year.
“The proposed sale and leaseback mirrors best practice among leading companies and will have no impact on our day-to-day operations.”
Sale and leaseback part of a refinancing strategy