McLaren posts bigger loss but increased revenue for 2017

©WRI

Last season wasn't exactly a banner year for McLaren, the Woking-based outfit seeing its losses swell to over £13 million in 2017.

McLaren Racing Limited, the company that operates the F1 team, generated £196,5 million in revenue last year, a 9 percent increase over 2016, according to its latest annual report.

However, its loss for the financial year grew from £3.241 to £13,147, a year-on-year deterioration "largely due to Prize Money following the results of 2017 season".

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Indeed, last season's campaign - the last which McLaren ran with engine partner Honda, saw the team finish a lowly ninth in the Constructors' standings - ahead of just Sauber.

McLaren's slice of FOM revenue for 2017 is estimated at approximately £75 million, an amount that includes its £25 million historical bonus.

Factoring in Honda's £60 million cash contribution, sponsorship and miscellaneous revenue is therefore estimated at about £60 million.

The report also mentions that McLaren initiated in 2017 a programme to sell "a specific and limited number" of its heritage race cars.

"Deposits have been received for the cars identified for sale and, whilst a small number were delivered in 2017, the majority will be prepared and delivered over 2018 and 2019".

A bit of selling of the family jewels one would say…

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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.