12/11/2016
NEWS STORY
The future for Ron Dennis at McLaren appears bleak as injunction bid is thwarted.
It wasn't only on track that McLaren was struggling yesterday, for as Fernando Alonso and Jenson Button were sidelined by technical issues, Ron Dennis' thirty-plus year association with the company appeared to be nearing the end.
Having failed to find the necessary funding to buy-out partners Mansour Ojeh and Bahrain sovereign wealth fund Mumtalakat, the Briton is said to have launched another late bid to buy the company for a reported £1.65bn in league with a Chinese consortium however this bid was rejected by the majority shareholders.
In response, fearing Dennis might yet find the means to take control, Ojeh and Mumtalakat sought to have the Briton removed from office.
Consequently, Dennis headed to the High court in London to seek an injunction to prevent the move, pending the expiration of his contract which in January. Were the injunction successful it would prevent him being placed on 'gardening leave' until his contract expires - a move well known to followers of the sport.
It is understood the court rejected the injunction and that an emergency board meeting was scheduled in order to have Dennis suspended with immediate effect.
While the road car division, McLaren Automotive, is not affected, if Dennis is suspended it would end a 35-year involvement with the F1 team which has won ten drivers' titles and seven constructors' titles.
McLaren is not commenting on the story.
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