Alfa Romeo set to bail out McLaren in shock takeover!

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Fiat-Chrysler has reached an agreement with the McLaren Technology Group to acquire the McLaren Formula 1 team, according to famed Italian blogger Teo Lurrini.

The shocking news follows negotiations which have been under way for some time but accelerated recently following McLaren's dismal start to its 2017 campaign and Honda's inability to improve its power unit performance.

McLaren shareholders - among which remains former CEO Ron Dennis - have understandably become tired and frustrated with the team's perennial underperformance and difficulties, and have decided to throw in the towel and sell their investment to FCA for a nice premium.

Details are still scarce and the value of the transaction has yet to be revealed but according to Lurrini, Fiat-Chrysler CEO Sergio Marchionne would simply ditch the McLaren name and rebrand the outfit 'Alfa Romeo Squadra Corse'!

The Italian-Canadian executive has hinted in the past about bringing the historic manufacturer back in to Grand Prix racing as a means of promoting the prestigious brand's sporting image.

Alfa Romeo F1 return in the works?

Contractually, it is believed that a clause in the engine supply agreement between McLaren and current engine partner includes a right of exit for Honda in the event of a change of ownership at McLaren.

Subsequently, it's alleged that the Japanese manufacturer has chosen to release McLaren and itself from both partners obligations at a specific date to be confirmed.

But in order to get a head start on 2018, the Woking-based outfit's MCL32 could receive an Alfa Romeo-badged Ferrari power unit as soon as this year, with a tentative debut set for the Belgian GP at the end of August!

While McLaren's Fernando Alonso would certainly welcome Ferrari power - or any power for that matter - it's uncertain if he would be willing to stay with a his new employer in 2018 as this would imply a return to a Ferrari-colored environment he purposely left behind three years ago.

More to follow...

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.