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Poor form hits McLaren finances

2015-07-07 08:41

DOWN IN THE TRENCHES: The McLaren is struggling to attract sponsorship amid its poor form in 2015. Image:AFP / Lluis Gene

LONDON, England - McLaren have acknowledged that its lack of F1 success is hurting commercially in terms of lost revenues and sponsor appeal.

The sport's second most successful team have not won since 2012 and have scored five points in nine races of a new partnership with Japanese car giant Honda.

After Sunday's (July 5) British Grand Prix, the team are now just a weekend away from equaling their dismal 1993-97 run of 48 winless races in a row.

DISMAL 2015 F1 SEASON

McLaren's racing director Eric Boullier told reporters at Silverstone: "You establish a brand by your success and repeated success, McLaren by the number of wins and championships has clearly established its brand as an excellent one.

Asked about their recent poor record, he said: "Commercially it does hurt because obviously a lot of people or companies are interested in joining us but some people in their organisations may question the lack of results.

"And I don't think we can wait for very long any more."

READ: Point at last! Alonso ends miserable run

The last time Honda partnered McLaren, in the late 1980s and early 1990s, they enjoyed a dominant spell with Alain Prost and Ayrton Senna.

McLaren have won eight constructors' championships, but none since 1998, and 12 drivers' titles, with the last coming in 2008 with Lewis Hamilton.

Since 1966, the team founded by New Zealander Bruce McLaren have won 182 times and taken more points than any team other than Ferrari, who have been competing unbroken in the championship since 1950.

NO TITLE SPONSOR SINCE 2013

But McLaren have lacked a title sponsor since 2013, when Vodafone left, and this season saw their worst start ever.

F1's revenues are paid on a sliding scale, although McLaren also get extra in recognition of their importance to the sport.

They are currently ninth and, if the situation stays that way, some estimates have suggested they could be in line for the equivalent of R619-million less than 2014, when it finished fifth.

The Frenchman said of relations with Honda: "Like any partnership in the world, I am not going to tell you what we are telling each other behind the scenes, we have to fight the world together as one team but the pain is real.

Boullier touched on the financial outlook of the team: "So far we have a good forecast for the next years, but it (the lack of success) is going to hurt us in terms of revenue and we will have to find a way to cover this."

Stay with Wheels24 for the 2015 F1 season – fresh reports every day.


Read more on:    mclaren  |  motorsport  |  formula 1

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