Ron Dennis has dismissed the possibility that the record $100-million fine imposed on his team by the FIA for spying scandal will cripple his team.
BELGIUM: Ron Dennis has dismissed the possibility that the record 100-million-dollar fine imposed on his team by the International Motoring Federation (FIA) for spying on the Ferrari team will cripple them financially.
The fine, part of the punishment for McLaren's role in the 'Spygate' drama, will be partially offset by the prize money the team has won so far this season, thought to be around the 50 million dollar mark.
Even without the offset McLaren are probably the one Formula One team that could cope with such a large penalty, but with it, Dennis is understandably confident that his company can emerge from the whole ordeal in a strong financial position.
"Firstly, we will effectively still have as an offset the revenue from the points earned to date," McLaren boss Dennis said.
"That will effectively half the size of the cheque we have to sign, if we ultimately accept this fine. But, as you can see if you read our accounts, we turn over roughly 450-500 million dollars a year, and we are debt-free, so obviously we are a very strong company with phenomenal growth."
Despite the fine and the removal of his team from the 2007 constructors' championship race, Dennis has remained in a defiant mood.
After the result of Thursday's hearing in Paris the 60-year-old revealed that he had mischievously asked Norbert Haug (chief of the motorsport division of McLaren's engine partner Mercedes-Benz) if he would "chip in half" of the fine and went on to dismiss talk of his retirement.
Dennis said, "My personal future was never in question as far as I was concerned. I'm very committed to this company, I'm very passionate about motor racing, and I have absolutely no intention of retiring."
McLaren are expected to decide whether they will appeal the judgment made in Paris after the FIA clarify the reason for the penalties later Friday.
Both the team's drivers Lewis Hamilton and Fernando Alonso have escaped sanction - meaning they are free to chase this year's world drivers' title.
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