McLaren Group moves to deny Audi takeover story

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The McLaren Group has strongly denied a media report published on Monday claiming that it had been acquired by Audi, calling the story "wholly inacurate".

Britain's Autocar made the claim that a deal between the two automotive companies had been signed and sealed, with the takeover also providing Audi with a de facto entry into Formula 1.

But McLaren was quick to dismiss Autocar's report.

"McLaren Group is aware of a news media report stating it has been sold to Audi," rea a statement from the Woking-based company.

"This is wholly inaccurate and McLaren is seeking to have the story removed.

"McLaren’s technology strategy has always involved ongoing discussions and collaboration with relevant partners and suppliers, including other carmakers, however, there has been no change in the ownership structure of the McLaren Group."

Read also: Brown convinced F1 teams will reach billion-dollar valuations

While the internet was buzzing with the erroneous news of McLaren's takeover, the report fueled additional speculation regarding a potential bid by BMW for McLaren!

McLaren's firm denial will no doubt relieve the papaya squad's many fans who would fear for the future of their favourite team if ever it came under the ownership of a major automobile manufacturer.

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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.