McLaren braced for closure as racing series losses double
McLaren’s Formula E operations face closure at the end of the current season as the racing series’ losses nearly doubled to €78.3m (£67.6 million) in 2023/24.The McLaren squad announced in April that they would be quitting the all-electric racing series at the end of the current season, and the iconic manufacturer will instead focus its resources on a World Endurance Championship entry for 2027.Since this announcement, team principal Ian James has been searching for a buyer to ensure that the outfit remains in Formula E, albeit under a different name.Hyundai were rumoured to be an interested party, but as of yet the team are yet to find a buyer that ensures their future in the series.According to Motorsport.com, the team will close down in September following the end of the current season and if McLaren are unable to find a buyer, the team’s entry will return to Formula E Holdings.The future of their two drivers Sam Bird and Taylor Barnard hangs in the balance following the closure of the team, with McLaren’s Formula E squad also offering opportunities to young female racing talent.In 2024, Formula E held its first ever women’s test which allowed former and current F1 Academy stars Bianca Bustamante and Ella Lloyd to share three hours in the GEN3 Evo car.Lloyd will return to Formula E machinery on Monday, July 14 for the Berlin E-Prix Rookie Test, reflecting the opportunities McLaren provides young drivers by participating in the series.
