McLaren Racing boss Zak Brown has formally ruled out a takeover of the Woking-based outfit by German manufacturer Audi.
Rumors of an acquisition of the McLaren Group by Audi first surfaced last November, with a report from British magazine Autocar claiming that a deal between the two parties had been signed and sealed, a story immediately denied by McLaren at the time.
However, the Volkswagen Group's plans to enter Formula 1 with its Audi and Porsche affiliates sustained the rumors over the winter, although it was also reported that Audi - in search of a pipeline into F1 - had initiated talks with Aston Martin in Williams.
Speaking ahead of this weekend's Miami Grand Prix, Brown confirmed that McLaren had held talks with Audi, but insisted that the team's Formula 1 future was safe, and that there is no takeover in the works.
"No, no. Our shareholders are very committed to McLaren," Brown said.
"We did have conversations with Audi, and we're not for sale. We're very committed to our future and we're doing really well on the track.
"Shareholders are making substantial investments to give our team the resources we need to get back to the front, and commercially we're doing really well.
"Morale in the team is really good. We don't have any interest in selling the racing team."
"We're McLaren F1. That's what we're going to remain, and we're going to remain owning the racing team."
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The global Covid pandemic hit the McLaren Group hard as automobile sales plunged, a predicament that forced the company to recapitalize itself last year.
However, McLaren Racing had already refreshed its financial base in late December of 2020 thanks to a sale and leaseback of its McLaren Technology Center and to the sale of a $185 million minority stake to US-based sports investment group MSP Sports Capital.
"We're in a really strong position and we weren't 18 months ago," said Brown.
"MSP Sports Capital came in and invested, and you guys all know the situation we were in 18 months ago. That now seems like a long time ago, especially given the state of play now.
"Our terms for any partnership would be we retain ownership of the racing team. And if anyone wants to have a conversation that is different to that, then there's no conversation to be had."
While Brown ruled out a takeover of McLaren Racing, talks could be held with a potential partners – including Audi – regarding an engine supply deal from 2026.
"We won't consider a buyout of McLaren, but it's up to Andreas [Seidl – McLaren F1 boss] to decide what power unit he wants in the back of the racing car," he said.
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