McLaren to sell and lease back Woking factory

FILE PHOTO: The McLaren 765LT is seen at its launch at the McLaren headquarters in Woking, Britain, March 3, 2020. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) - McLaren will sell their state-of-the-art Formula One headquarters and lease it back long-term to raise cash and reduce the company's debt, the team's chief executive Zak Brown said on Saturday.

The American told reporters in a Zoom call ahead of the Tuscan Grand Prix that it was a straightforward financial exercise.