Audi intends to purchase a share in McLaren, Automobilwoche reports, adding that the German marque raised the initial offer by 45% from €450 million to €650 million.
According to insiders, Audi will be initially only interested in the Formula 1 division of the British business, but expects to be able to buy a share in the road-legal/production car department later on.
Bloomberg points out that the second half of the deal may fall through because of McLaren working out a cooperation agreement with BMW on March 24. The document sees the two automakers uniting efforts in electric sports car development. However, we are told that the agreement is non-binding at this moment and can be voided.
Both companies are expected to make their official statements on this matter soon. The Volkswagen Group Board of Directors will then be able to approve of the deal by the end of the month.
Rumors about certain German automakers being interested in McLaren first emerged in last November. Back then, BMW denied any interest in such a deal, while Audi let it go without comment.