McLaren gets $760m boost from investors including Saudi Fund

New York: McLaren Group received $760 million in funding from investors including Saudi Arabia's sovereign wealth fund as the supercar maker and racing team owner tries to recover from the impact of the pandemic.

McLaren, controlled by Bahrain's Mumtalakat, has delayed the Formula 1 racing series and forced to halt automotive production.

The closely held British supercar maker in April sold and leased back its headquarters in Woking, near London, and agreed to sell as much as a third of its racing unit to a consortium of US-based investors.