FORUMula1.com - F1 Forum

[darwin dali]

ESPNF1:
Technology giant Apple is in talks with McLaren about a possible takeover, according to the Financial Times.

The report says Apple has approached the McLaren Technology Group, which emcompasses the famous F1 team, McLaren Automotive and McLaren Applied Technology. The FT says talks started several months ago, according to three people briefed on the negotiations, and could involve either a full takeover or strategic investment.

Apple has been working on self-driving electric cars and has recently outlined plans to transform the automotive industry in the same way it has revolutionised the smartphone market. The report states McLaren is an attractive proposition because of its technology and engineering proficiency.

The FT suggests the McLaren Technology Group will be valued at anywhere between £1 billion and £1.5 billion, with McLaren Automotive Group generating revenues of £450 million last year. The news comes just weeks after U.S. media group Liberty Media confirmed it has agreed to purchase a controlling stake in Formula One in a deal worth over £6 billion.

[sagi58]

LOVE the title of this thread!!

[myownalias]

I personally hate the idea that Apple could buy McLaren; for no other reason than disliking Apple's dubious business practices. It wouldn't surprise me if this is some sort of tax dodge or other way to benefit their core business. They don't need to buy a F1 team and hypercar maker to develop self driving cars, people who buy hypercars are drivers, not people who like to be driven.

[darwin dali]

How many (competent) carmakers are for sale? I'm sure Apple did some research as to what company would fit best.

[myownalias]

Apple do not need to buy a car manufacturer; I'm sure plenty of car makers would love to work with Apple on autonomous vehicles. But as I said, I don't think this about cars or even McLaren, it's about increasingly their bottom line after their recent defeat in Europe over the amount of tax they should have paid.

[gdh]

That's chump change to Apple. I wonder if Apple created a McLaren iPhone version if it would run slower and fail after a few heated texts.

[darwin dali]

Dennis speak on iPhone - boggles the mind.

[myownalias]

That's chump change to Apple. I wonder if Apple created a McLaren iPhone version if it would run slower and fail after a few heated texts.

More like you will have to use a special mega expensive iPhone to enter and start the car, which of course is not included with your McLaren.

[overboost]

Ron Dennis set to be ousted from McLaren Group next week

Finally getting rid of this scheming joker:

"Ron Dennis is poised to lose his positions as chairman and CEO of the McLaren Group as early as next week, Autosport understands.

Dennis has been involved in a two-year behind-the-scenes struggle that is now set to result in him being ousted in a boardroom coup.

The 69-year-old, who has been involved with the Formula 1 team since 1980, was recently informed his contract would not be renewed when it expires at the end of the year.

That seemingly prompted Dennis into launching a last-ditch takeover bid in conjunction with a Chinese consortium, reportedly worth an estimated £1.65billion.

Dennis currently holds a 25% stake in the McLaren Group, with a further 25% owned by long-time business partner Mansour Ojjeh, and the remaining 50% in the hands of Bahrain sovereign wealth fund Mumtalakat.

It is understood Ojjeh and Mumtalakat responded to Dennis's takeover plot with their own counter-measure to remove him from office.

Sky News has reported Dennis was recently in the High Court seeking an injunction against a move to place him on gardening leave until his contract expires.

It has been suggested the High Court rejected such a course of action.

The fight for power inside McLaren's boardroom now looks set to end with the man who has played the most significant role in building up the F1 team and the company over the past three and a half decades losing his most important battle yet in ignominious fashion."


Really Ron, bringing in the the Chinese to try and steal McLaren away from your business partner and friend Mansour??

http://www.autosport.com/news/report.ph ... -next-week

[sagi58]

Ron Dennis set to be ousted from McLaren Group next week

Finally getting rid of this scheming joker:

"Ron Dennis is poised to lose his positions as chairman and CEO of the McLaren Group as early as next week, Autosport understands....

Again?

Will Whitmarsh be back?

[overboost]

And Ron the old slimy lizard is gone. Forced out by his former friend and partner Mansour Ojjeh after two prior Chinese backed hostile takeover attempts organized by Ron to do the same to Mansour.

"Ron Dennis ended his 35-year long career at McLaren on Tuesday after he was forced to step down by shareholders.

The chairman and chief executive of the McLaren Group quit after being told by fellow shareholders to step down from his position.

At the root of the issue seems to the fallout Dennis had with business partner Mansour Ojjeh, who also owns 25 percent of the McLaren Group. The other 50 percent is owned by Bahrain’s Mumtalakat investment fund, with whom Ojjeh has sided to remove Dennis."

http://www.planetf1.com/news/dennis-quits-mclaren/

[rob91]

Zak Brown accepts role after Ron Dennis' departure

The Americans are coming...