F1: Beleaguered McLaren admit cash shortage

[Rory Phoulorie]

Friday 14th December 2007

McLaren have admitted their cash shortage from the Stepneygate crisis is worse than first feared.

Already fined $100m by the FIA for their part in the spy scandal that threatened to derail the 2007 World Championship and which cost the team the Constructors' Championship, McLaren have been counting the cost of the ongoing dispute withthe FIA.

In a highly revealing passage in Martin Whitmarsh's letter of apology to the governing body, the McLaren CEO wrote that: 'Apart from the morale-sapping consequences within the team, its ability to continue its task of generating investment has been made virtually impossible. Consequently, the long-term damage to the team's previously outstanding record and commercial capability is significantly greater than that potentially envisaged by the fiscal penalty imposed.'

The team have pledged to redesign elements of their 2008 charger - itself an expensive and time-consuming undertaking - and also meet the �1m bill for the FIA's latest investigation.

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