News Details
Lloyds sell Marussia stake
Lloyds Banking Group has sold its 25.3 per cent stake in the Marussia Formula One team.
The decision to sell comes after Formula One not only failed to perform on the track but also made huge financial losses.
According to the Daily Telegraph, the backmarker outfit, who has yet to get off the mark in F1, made a "net loss of £46.3m on revenue which dropped 5pc to £28.6m" in the year ending December 31 2011.
As such Lloyds Development Capital (LDC), the private equity division of the bank, sold their shares in the team.
A spokesman told the British newspaper: "LDC has sold its minority shareholding in the Marussia F1 team to Marussia.
"While the details will...
Full Story »
Full Story »
12y ago from PlanetF1.com
0
You May Also Be Interested In...
Lloyds sells stake in Marussia
Lloyds Development Capital (LDC) has sold its 25.3% stake in Marussia...
12y ago from espnF1.com
British bank sells Marussia team shares
22 April, 2013 Lloyds, the quasi-government owned British bank, has sold...
12y ago from YallaF1.com
Marussia shares sold following hefty loss
Lloyds Banking Group has sold its shares in Marussia F1 Team, amounting...
12y ago from RichlandF1.com
Elsewhere On The Network
Popular On MGPToday.com
Why Ducati stronghold Jerez presents Aprilia’s...
No description available...
5h ago from Motorsport.com
MotoGP star Pedro Acosta wants to keep racing beyond 35
No description available...
8h ago from Motorsport.com
Giacomo Agostini backs 2027 MotoGP rules: “Wings...
No description available...
1d ago from Motorsport.com
Nicolo Bulega: If no 2027 MotoGP move arrives, it's...
Nicolo Bulega believes that not securing a 2027 MotoGP ride wouldn’t be...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Pato O'Ward issues damning verdict on ‘Mario...
Pato O'Ward isn't chasing F1 any more after falling out of love with...
37m ago from MotorsportWeek.c...
Winners and losers from the IndyCar Grand Prix of Long...
No description available...
1h ago from Motorsport.com
IndyCar names officiating director ahead of Indy 500
IndyCar Officiating has announced Scot Elkins as the new Managing...
2h ago from MotorsportWeek.c...
IndyCar Officiating confirms Scot Elkins as Managing...
No description available...
3h ago from Motorsport.com
Popular On TotalWRC.com
Why Dani Sordo is excited for his WRC topflight return
No description available...
1d ago from Motorsport.com
Ott Tanak lands 2027 WRC car testing role with Toyota
No description available...
4d ago from Motorsport.com
Thierry Neuville wants to "make everyone proud...
No description available...
4d ago from Motorsport.com
The Rally1 rookie proving he belongs in the WRC top...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
£80m target emerges as Chelsea seek upgrade after...
Chelsea are hoping to sign the Newcastle United attacker Anthony Gordon at...
1h ago from CaughtOffside.com
Guardiola: I loved seeing Rice say the title race is...
Man City boss Pep Guardiola says he "loves" Declan Rice's claim...
2h ago from SkySports.com
“If Arsenal don’t win anything, they have got that...
Former Chelsea midfielder has shared his thoughts on Arsenal striker...
5h ago from SportsKeeda.com
Arteta personally looking to add 90m winger to his...
According to TEAMtalk, the Arsenal hierarchy is actively preparing to push...
9h ago from CaughtOffside.com
Comments
Hottest News
F1 star involved as sex escort scandal uncovered
A major investigation has linked an F1 driver... Read More »
3h ago from GPFans.com
Aston Martin lifeline emerges as Honda engine backed for...
Honda could be set to receive a significant... Read More »
2h ago from GPFans.com
F1 Blockbuster Moves: Lewis Hamilton's secret talks with...
There may be nothing more captivating in sport... Read More »
57m ago from GPFans.com
