58 replies to this topic

[pacificquay]

http://adamcooperf1....ake-in-mclaren/

 

Bloody good news.

 

For me, and many McLaren fans, Ron is McLaren.

 

Hopefully this will put an end to nonsense stories about people trying to oust him.

[ViMaMo]

Big Boss returns?

[vsubravet]

http://adamcooperf1....ake-in-mclaren/

 

Bloody good news.

 

For me, and many McLaren fans, Ron is McLaren.

 

Hopefully this will put an end to nonsense stories about people trying to oust him.

Good on you, Ron!!! The recovery process has begun!!! Terrific news.

[trogggy]

He still has to find the money, if I understand the story correctly.

[Owen]

He still has to find the money, if I understand the story correctly.

Indeed he does. No pressure. 

[F1ultimate]

He still has to find the money, if I understand the story correctly.

 

Yupp and where the money comes from will decide whether he or other parties will take a majority stake. If he pays out of his own pocket or opt for debt finance that he'll have more control, but if he gets the funding from venture capitalist funds then they could have a say in Mclaren. 

[Waffle]

I'm a bit worried about how he'll finance this.  Presumably the only way he can pay for the loans is from dividends from McLaren.  That will put financial pressure on the business, as Ron will need a certain amount every year to at least service the interest.  Historically, Formula One teams haven't made large profits, and their value has mostly been as a trophy asset.  McLaren made the largest profits of all the F1 teams last year, but clearly Ron's still having trouble raising money.  Things could get tight for him very quickly.

Edited by Waffle, 12 December 2014 - 15:40.

[silense]

Very good news. Let's see which option he finds to finance the deal. But I think it is good for McLaren and hope he gets it done.

[Jon83]

The guy's an ego-maniac.

[Fastcake]

The article reads like Dennis has now secured the funds to purchase a majority stake in the Group.

 

It will be good for the team if this goes ahead. McLaren needs stability after the restructuring that has taken place this year, and that can only be achieved by removing the backroom politics.

[Maustinsj]

Maybe he has recently come into some funds from cashing in some trophies he found...

[Owen]

The article reads like Dennis has now secured the funds to purchase a majority stake in the Group.

... and he hasn't really.

[SlickMick]

If the title had been "According to a journalist, Dennis is planning to take majority stake in McLaren", I wouldn't be in this thread!

[mclarensmps]

If true, this is absolutely fantastic news. 

[frosty125]

This has been going on for 12 months he hasn't been able to find the 300 million euros I suspect that was part of the JB v KMag thing, which one would be best for finding an investor.

 

EDIT He already missed his end of November deadline 

Edited by frosty125, 12 December 2014 - 16:23.

[Jimisgod]

Nooooooooooooooooooooooooo

[kevinracefan]

as mentioned by others, he's been trying to do this for over a year... without success...

 

he's been trying to get a title sponsor for 2 years.. without success..

 

I would suspect he's been trying to persuade Honda to help out, also (but that's my speculation only)..

 

the problem is that the "package" that is McLaren looks a little worse as time passes...

 

the leap of faith gets bigger daily...

 

KRF

[Button4life]

FFS, this man has a very very big ego.

[pacificquay]

Look at what McLaren was worth when he took over and what he has built it into.

Shameful to be denigrating the man.

[Ross Stonefeld]

He's not Kim Jung Ron, he can be criticised.

[MinT]

I think hes like Bernie now - he has been in it too long and has lost the plot.

[Guizotia]

He's not Kim Jung Ron, he can be criticised.

 

Surely Kim Ron-Un ?

[mclarensmps]

No, he's the father!!

[Waffle]

FFS, this man has a very very big ego.

 

Having a controlling shareholder tidies up decision making.  Either no other shareholders were willing to take that on, or Ron thought he was the best qualified of the three to run an F1 team - a reasonable conclusion, I think.  There are perfectly good reasons to do what he's doing.  You can see it is evidence of some deep character flaw if you like, but to me it seems to fall within the range of perfectly normal behaviour.

[Waffle]

Maybe he has recently come into some funds from cashing in some trophies he found...

Ha ha!  Honestly, I've got the receipts.  Er....

[Ross Stonefeld]

Having a controlling shareholder tidies up decision making.  Either no other shareholders were willing to take that on, or Ron thought he was the best qualified of the three to run an F1 team - a reasonable conclusion, I think.  There are perfectly good reasons to do what he's doing.  You can see it is evidence of some deep character flaw if you like, but to me it seems to fall within the range of perfectly normal behaviour.

 

I'm not sure where I see the ownership impacting the performance of the race team? I dunno, are the Bahraini's micromanaging the structure of the tech team? Is Ojjeh asking to call race strategy too many times? I'm being semi-serious, Ron gets more control of the company and what changes at the part of the company the public sees?

[Waffle]

I'm not sure where I see the ownership impacting the performance of the race team? I dunno, are the Bahraini's micromanaging the structure of the tech team? Is Ojjeh asking to call race strategy too many times? I'm being semi-serious, Ron gets more control of the company and what changes at the part of the company the public sees?

 

Well every company has board meetings to take decisions.  Although I know little about business, I assume that those decisions have an impact on the business.  In fact, I've always assumed that they're decisions that have a major impact on the business, hence they're taken at board level.  Please correct me if I'm wrong.

[frosty125]

I would be happy for him to take control he will make it successful. My only worry is resilience, who could replace him if something was to happen to him.

[mclarensmps]

The guy's an ego-maniac.

 

 

FFS, this man has a very very big ego.

 

I don't see how wanting to regain control of the company you created is egotistical? 

After giving your whole life to one cause, and having it all taken away from you (when the other boardmembers were discussing removing him from the board) is probably not a risk he is willing to take any more. Good on him. 

[Ross Stonefeld]

Well every company has board meetings to take decisions.  Although I know little about business, I assume that those decisions have an impact on the business.  In fact, I've always assumed that they're decisions that have a major impact on the business, hence they're taken at board level.  Please correct me if I'm wrong.

 

Well let's try to think of examples or scenarios where it actually makes a difference. In F1 you don't have a lot of control over your future at board level, it comes from underneath and performance. Unless somehow the board is disrupting the ability to get a title sponsor, what does changing it do? Does Ron want to get Adrian Newey or similar but the board doesn't want to? If it was over something like Button or Magnussen, that starts to become petty.

[crbassassin]

http://adamcooperf1....ake-in-mclaren/

 

Bloody good news.

 

For me, and many McLaren fans, Ron is McLaren.

 

Hopefully this will put an end to nonsense stories about people trying to oust him.

All hail to the King!

[El_Rápido]

Ron wants to nail everything to the ground because he knows the results are going to come fast.

 

Good sign for McLaren fans!

[surbjits]

Well let's try to think of examples or scenarios where it actually makes a difference. In F1 you don't have a lot of control over your future at board level, it comes from underneath and performance. Unless somehow the board is disrupting the ability to get a title sponsor, what does changing it do? Does Ron want to get Adrian Newey or similar but the board doesn't want to? If it was over something like Button or Magnussen, that starts to become petty.

Depends how its all structured really: whether or not the board let the team get on with what they have to do without getting involved is unknown.

[Ferrari_F1_fan_2001]

No offence but isnt he abit too old for all this? He isnt too far off 70 years old.

Then again, these rich guys do not age like the rest of us.

Ahhh.....to have first world problems!

[aramos]

No offence but isnt he abit too old for all this? He isnt too far off 70 years old.

Then again, these rich guys do not age like the rest of us.

Ahhh.....to have first world problems!

These f1 lifers never retire. They don't know what else to do.

[mclarensmps]

Age hasn't stopped Frank Williams, albeit he is handing control over to his daughter now. At least he gets to do it on his own terms!

[Owen]

@andrewbensonf1: McLaren chairman Ron Dennis is trying to take back control of the McLaren Group http://t.co/M9WZUWmWTm

He needs to find £250m.

[stiffy]

Would you lend 250K to a man who has his gravel drive washed twice a year?

[midgrid]

Indeed he does. No pressure. 

Crowdcube?

[Amphicar]

Would you lend 250K to a man who has his gravel drive washed twice a year?

Certainly not. If he only has it washed twice a year the man is clearly a slovenly bounder!

[SophieB]

Would you lend 250K to a man who has his gravel drive washed twice a year?

 

I hope that's not a euphemism. 

[BullHead]

Ahem. A swerve back to sporting privateers from the corporate rulers can only be a good thing

[Peter0Scandlyn]

Bernie must be under the pump having used his favourite journo to pontificate on this happening.

Can't think of any reason for him to blink otherwise.

[LORDBYRON]

Bernie says its a done deal he already has the shares but not paid them  and is the new team owner 

 

http://www.forbes.co...ays-ecclestone/

[RosannaG]

Would you lend 250K to a man who has his gravel drive washed twice a year?

 

We all should... You never know when death is going to claim you! 

[AustinF1]

He still has to find the money, if I understand the story correctly.

Yes. As far as I know nothing has changed on this front since F1 Racing first came out with story back in August (??iirc)

[AustinF1]

Bernie says its a done deal he already has the shares but not paid them  and is the new team owner 

 

http://www.forbes.co...ays-ecclestone/

If they aren't paid for, then the deal isn't done. It's pending receipt of a huge payment.

[ViMaMo]

Ron can buy back and become the majority stake holder because he has high hopes of making McLaren Honda a big success. Good luck to him !

Edited by ViMaMo, 15 December 2014 - 09:39.

[midgrid]

Bernie says its a done deal he already has the shares but not paid them  and is the new team owner 

 

http://www.forbes.co...ays-ecclestone/

So he's stolen them?!?

[Nathan]

Seems buying a F1 team is like buying furniture; take it home and dont pay for 6 months.