McLaren to mortgage historic car collection to raise funds – report

British F1 and supercar specialist McLaren is looking to borrow between £250 million (AU$465 million) and £275 million (AU$511 million) against its headquarters and historic car collection to see it through decreased profits during the COVID-19 pandemic. The funds are being sought by McLaren and its financial advisers JP Morgan following the rejection of a £150 million (AU$279 million) loan application with the English government, Sky News reports in the UK.