McLaren reports £9m operating loss despite sporting upturn ...Middle East

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McLaren reports £9m operating loss despite sporting upturn
source : F1 News ( Middle East ) () 26
McLaren Racing Limited has reported an overall £9 million loss for its fiscal year 2022 in its most recent reported accounts - pinned partly on the cost of paying off Daniel Ricciardo. The team's finances state a revenue of £327.892 million in 2022, an increase of more than £115 million over the amount at the same point in the previous year. As well as F1, the turnover includes IndyCar, Formula E and Extreme E which all fall under the McLaren Racing Limited umbrella. The team's annual report says the improvement is “primarily as a result of increased sponsors in the year, a return to pre-COVID hospitality, and inclusion of revenue from the IndyCar operations.” Last year was the first year in

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