McLaren is not about to go public and speculation that this is the plan is simply that. The story comes from some Ron Dennis quotes that have been extrapolated to a crazy extent by a website that has a habit of making huge guesses and then forgetting the guesses that don’t work out. We could all do this, but what’s the point? People eventually work out that it is all guesswork and they then trust the source less and ultimately they don’t bother to visit anymore, no matter how thrilling the headline may sound. So why would a website owner waste all that effort? Why not try to do the job properly and get off one’s backside and go to some races and try to become a credible F1 source, rather than a bottom-feeder? Of course it’s hard to do it, which is why only the best make it.
Anyway, back to McLaren. To understand the team one needs to understand that Dennis is a man who values control. He likes things being done his way, but he listens and trusts people enough to let them try things. However, the team has not been as successful as it used to be and Ron is keen to get back on top. These things take time but he has given that job to Eric Boullier and it is a work in progress. It’s hard to know how well it is going because Honda’s problems are obscuring the level of performance.
In the meantime Dennis is buying back control of the business. It is clear that all those involved have agreed to let this happen and Ron is finding the money to do it. Mansour Ojjeh (of TAG fame) wants out. He’s not been well and he wants a quieter life. Ron is also buying a percentage of the shares held by Mumtalakat, but the Bahrain sovereign wealth fund will remain as a significant shareholder.
The word is that Ron has found money in China and that negotiations are ongoing, presumably because everyone wants to have things clear over what options might be included in the future. Remember that McLaren Automotive and the McLaren Technology Group (the F1 team is part of the latter) are two separate businesses, that have some shareholders in common, and this must complicate matters a little. Dennis is now 68 and is a man who thinks about the future and is not a short-termist. He will want a suitable structure that will outlive him and that will keep the McLaren name as a revered brand for years to come. Floating the company is something that Ferrari avoided doing for 27 years after the death of Enzo, and only then, as part of a much bigger group, was that allowed to happen. One suspects that McLaren will stay away from public ownership for as long as possible. If the owners want to extract value from their share holdings then new partners will be found, but Dennis has already done that and had a nicely balanced business with the shares structured cleverly until one day he lost a vote because he was not the chairman of that particular session and the casting vote went against him. The fact that he is finding ways to get control back shows that he has no plans to float.
joeblogsf1 
Which website? Could anyone tell me?
Its the website that claims as fact that Red Bull knocked up an entire ERS system in a secret back room called area 51 and that this ERS was built by ICE specialist Mario Illien and would be the basis of the Red Bull(shit) 2016 PU to be mated to a Renault/Honda or VW ICE depending on which day of the week
Alas, any posts on the site inquiring about this ‘exclusive’ are deleted leaving only those that bust their arms patting the liar on the back about this discredited and embarrassing lie
Clue to the site? They are always ‘informed by insiders’ or ‘have disclosed’ of the most blatant lies and the clickable headlines never actually correspond to any reality. Oh yes and one of the owners proudly declares him/her/it self as a big biased hypocrite whilst the other claims to be as unbiased as a judge lol
Put it this way, PlanetF1 forum block any threads discussing this sites ‘stories’ which has to be the most damning clue ever
Thank you for that…I was able to figure it out by going to the forum and reading the forum rules and regulations. Never heard of the site before. Looks like trash.
More monotonous dribble from cookinflat6
I thought of the site with an unlucky number and guess what, I’ve found it there.
Maldonado’s lucky # too I believe 🙂
Are McLaren (F1 Team) in danger of not having the financial clout to compete?
They must have taken a huge hit in sponsorship income and their prize money is shortly going to be a lot less.
I hope they’re competitive next year.
As you mention, the idea of Ron wanting to float the company, and inevitably lose control to the shareholders as a result of that, does not fit at all well with who Ron is, how he does things nor does it fit in with just having worked hard to get back in control recently.
One of the few people in F1 that I have a lot of time for.
Ron usually gets a lot of criticism for his work ethic and his occasional ‘dialogue errors’, but you can’t help but admire the guy for what he has achieved and the ongoing business at McLaren.
Good luck to him.
Yup, lots of respect, lots and lots.
I see F1 as analogous to what is happening in Silicon valley, everyone is inventing advanced things and inventing the industry at the same time. No one knows the rules so the smart set invent them. Rod Dennis is in a hard business and he has had great success, he is not known for screwing people or vendors, he plays by a set of rules we can all admire. Much respect.
These clickbait lie sites are a big part of why F1 is in turmoil. There was a headline that stated that ‘Vijay loses his F1 team’ later to be modified to ‘Vijay MAY lose his team’ and then ‘Shares in F1 used as collateral’ etc etc – without a single shred of explanation or shame or admission of ‘over enthusias
It is this cancerous undermining of the fabric of F1 and of those brave enough to join the over 100 F1 team owners that have stepped up to the plate over the years – all for cheap clickbait headline. Its all about the end of F1, the ‘wrongness’ of the current champion etc etc etc
What makes it even worse is the rank ignorance and sheer thickness displayed by their speculations, which are lapped up by dim witted readers who fall for the gudge based unsubstantiated lies
Headline says ‘Ron to turn McLaren to public ownership’ and then stumbles around incoherently explaining how unlikely it is that Ron would dilute his ownership in return for a couple of years of budget. All this after getting the equity ownership figures of McLaren Group completely wrong in the first place
And the most dishonest thing about these sites is that they delete and censure all the posts that point out the stupidity and duplicity, leaving only those from a crowd of fawning halfwits who lap up every fantasy constructed from cut and paste portions of the media with the sources carefully expunged
As far as Ron, it could be more likely that he is considering strategic partnerships and investment rather than floating – hence his comment of staying away from the races. Floating would not involve his direct action just his investment bankers.
Maybe we should organise a series of awards for “Thico Jourmalist of the year” With categories for “Most ridiculous headline”, Most misleading article”, Most untrue article”, ” Best diversion from Bernie” “Best planted story” “Worst ground-feeder article” etc “Most unbelievable statement from a team official” (Rob Smedley is excluded from this else he would win every year!)
Thickest primate of the year award would have to go to the person who insisted Red Bull had magicked up in a secret underground room a competitive solution (harmonized MGU-H/MGU-K/ES/CE/turbo) to the Hybrid regulations that took Merc years and hundreds of millions – that Honda, the biggest producers of engine in the world are struggling with – that Renault couldnt afford to get right.- just like that – despite not being a manufacturer and despite not even making the ICE (the simplest component)
And to continuing to insist this is so without the backbone to admit amateur night naivety once the facts were revealed has peed off a lot of people
Thicko Primate of the year has had his trousers pulled down in public and is trying to pretend he isnt wearing frilly pink knickers lol
Just cant resist. Why is it that “the best” reads and comments on the “bottom-feeder” websites “guesswork”?
I don’t. I read a headline on a clipping service.
Same reason as the Sun and Daily Mail headlines appeal to a certain strata previously unknown in F1 – cheap titillation for the woolly-headed turns F1 from a technical interest to grudge based gossip fodder
You have to add the Telegraph F1 page to that now, sadly.
Mr Dennis is not a man to bet against, he a great strategist and always thinks many years ahead – I wish more businesses had a man like him at the helm!
indeed so , what the UK needs is more people like ron instead of the bunch of short term quick buck merchants who currently rule the roost
You’re correct. Anyone remember Mclaren Peugeot! But then they teamed up with Mercedes. He thinks big and if Honda doesn’t work out the next one will.
If only Ron realized half the things that went on in his beautiful MTC…. And they’re the words of a friend who works there.
The results on the track are clear evidence.
Uncle Ron has promised a huge step forward which will secure the future of both McLaren cars and the F1 team. So presumably that means he has found a load of money from somewhere. China seems to be a favourite atm with all sorts of deals in a wide range of industries getting cash from China. (possibly before something nasty happens to it at home)
As for the “why” question, the answer is simple: entertainment. People like to read about celebrities (“see what Justin Bieber did on stage last night”-type of stuff), websites like these are there for the easy read, gossip, and such.
Me, of course I never read those websites (…), but prefer yours…
The credibility of the website in question can be summed up by the headline of its story alone, which shows that the nincompoops don’t understand the difference in terminology between a company which has shares floated on a stock market and a company which is owned by the state.
In the extremely unlikely event that George Osborne will be looking to put a specialist automotive firm on HM Treasury’s books in the foreseeable future, I think it is even more unlikely that Ron Dennis will be lining up as the vendor. The Bottom-Feeders, if one were to “judge” what they are attempting to say from the evidence of their hopelessly written headline, apparently think otherwise.
I’m very glad that I dont know what website you’re talking about.
While a part of me is curious to know who I should avoid if I do stumble accross them, a much bigger part of me refuses to waste time searching for something I know will be garbage.
Me too. Time is short, over the years I have settled on a few web sites that keep me informed. Who has time to spend on an odd ball site that never delivers what they promise, I don’t have such time and I don’t care who it is.
Everything Ron has achieved and built is owed to the initial and ongoing success of the McLaren racing ventures.
It is no wonder that Mr. Dennis holds near and dear the success (or lack of same) of the F1 team and as a lifelong booster of the racing brand I wish him well.
In these lean F1 team sponsorship times, I have to wonder if the private shareholders are disappointed in watching corporate profits siphoned off to underwrite the racing costs.
No doubt the car business and technology aspects of the McLaren Group will thrive after Ron is no longer in charge, but the F1 team’s survival post Ron is hardly bullet proof.
Anyone who has been around F1 as a fan/spectator the last 20 or 30 years must feel genuine sympathy for Ronald Dennis. Remember that tremendously confident TP of the late 1990s and the 2000s who was a by-word for perfectionism and sheer success?
Now he is foraging for gold in china. I hope he finds it. But if you watch bloomberg telly for news you will have heard that china is heading for its first 1930s style crash [that’s the other side of the capitalist boom coin, and you gotta take the pain with the pleasure baby].
Whatever happens I sure hope the best for Ron.
And for his 2 current drivers, who have been riding high on the sympathy ticket all year. You kind of get the impression they will be sorry when things get better and they have to deliver 🙂
As a longtime McLaren fan, I cannot wait to see what Ron has in store for the future, he is simply brilliant and inspirational. I trust they will be winning races fairly soon, but I’m prepared for another transitional season. I think things will be very interesting by the time Vandoorne gets a race seat. A very promising talent.
Joe, do you have any information on the new Santander deal that has been reported? I was under the impression they had left after last season as there were no logos on the coveralls or cars this year, but it appears as if they never did, and have now extended the deal?
Is there a second generation of the family with an interest in running the business?
Not that I know of. There are three children but none of them is in the business.
So even if a new set of owners is not needed now Ron will need a plan in the next 8 to 12 years.
he has a plan
Good
“We could all do this, but what’s the point? People eventually work out that it is all guesswork and they then trust the source less and ultimately they don’t bother to visit anymore, no matter how thrilling the headline may sound. So why would a website owner waste all that effort? Why not try to do the job properly and get off one’s backside and go to some races and try to become a credible F1 source, rather than a bottom-feeder? Of course it’s hard to do it, which is why only the best make it.”
Joe – tell us how you *really* feel about this type of newsmedia?
I didn’t detect any hidden feeling there 🙂
I notice a retort on letsjustmakethingsup.com along the lines of ‘floating doesnt mean losing control’ hahaha, what a twat. Before discussing the pros and cons of partially floating (and being partially accountable to private equity managers) why not admit you just made up the notion of floating purely for clickbait – in complete contrast to Rons words or even to your own halfbaked lame attempt at an article
Making things up and repeating them ad nauseam does not facilitate any meaningful discourse outside your own multiple id lame duck ‘readership’
I haven’t read the website in question for ages and don’t know what it has said about Mr Dennis and his various entities. But listing a business doesn’t mean you loose control. Williams is a good example of this. You couldn’t argue Fiat has sold control of Ferrari with the small amount of equity it recently listed. This happens quite a lot. It all comes down to how much equity you sell as part of an IPO.
There is no intention to float.
Bernie is now blaming all his troubles squarely on Merc and Ferrari, the later of whom it is rumoured has sent a lawyer’s letter to the FIA telling them that they have no right to give Bernie and Todt mandates that appear to override the current procedures for rule making.
The mandate can only override FIA procedures. It has no legal basis beyond that.
The old boy is feeling increasingly uncomfortable….hope the pressure is kept up!
Bernie has been quoted as saying Merc and Ferarri are ‘strangling’ F1 – I guess his real complaint is that there is less room for his hands around F1’s neck!
I think he may be saying that they are strangling him…
I thought Signor Arrivederci preferred to cut throats than strangle them…
F1 is powered by secrecy and lies. It’s to be expected there will be sites who will publish anything they hear about. I don’t read Italian and German sites, but they’ve been writing nonsense for years. There is also at least one website that acts as mouthpiece for Bernie.
It’s not that difficult to spot the iffy sites/forums, they receive hardly any reponses to their articles. Having said that, the forums of possibly the largest and most popular motorsport website has dozens of lunatic posts every day. I often have a good laugh at some of the suggestions and theories that appear on there, they brighten up a rainy day.
There are now more than one website acting as mouthpieces for Mr E.
Dear Ron,
I will pop a cheque in the post to you next week.
Yours Sincerely
Guo Guangchang
PS I hope that China’s richest man is OK and has not been “disappeared” by the Zhengfa (The Central Political and Legislative Affairs Committee), as is being rumoured today in HK.
Some people think that McLaren works without Bruce. Bruce is not a love object. He knows that he was the late entrant to the Oz/Kiwi/Anglo/Yank McLaren project. He didn’t sell love to Tauranac; they swapped.
I have no idea what this means.
It reads like cobblers to me too. Try:
Some people think that McLaren works without Bruce. Bruce is not a love object. Ron (He) knows that he was the late entrant to the Oz/Kiwi/Anglo/Yank McLaren project. Bruce and Ron are very different characters, and Ron wishes to run McLaren his way.
Ron (He) didn’t sell love to Tauranac; they swapped. Ron Dennis was a mechanic for Cooper and Brabham, but Tauranac loaned Ron two Brabhams for a season. On trust, not love.
Breaking news!!
According to the geniuses on letsjustmakethingup.com, Horner, Marko, Ghosn and the entire F1 media are all wrong in saying RBR will use the Renault PU, readers are discussing the latest exclusive that Red Bull are just about to announce their own new PU that has a fully functional ERS designed by ICE specialist Illien
And?