McLaren to increase $350M budget next season

McLaren are to operate in 2015 with the biggest budget in the team's history.

McLaren Group CEO Ron Dennis confirmed at the start of this season his organization were digging deeper into their pockets than ever before in order to compete this year, with the figure rumored to be around £200million.

The Woking-based marque, however, are still considerably off the pace of not just the dominant team this season in Mercedes, but also the likes of Red Bull and Williams.

With Honda due to come on board as power-unit supplier from next year, it is apparent no expense is being spared in order to return to the front.

'We are not in a position where we are struggling to get money, we are perfectly fine, and with Honda coming on board, even more so,' said racing director Eric Boullier. 'For this year we've had our biggest ever budget and next year that is going to increase, so there are no worries.'

Such remarks, however, would appear to fly in the face of the FIA's determination to cut costs, although only minor savings have been announced for next year by the World Motor Sport Council.

'Cost cutting and budgets are different,' insisted Boullier. 'If we want a £500million budget but spend only £100million then that is our problem, so they are different topics.'

Boullier also insists McLaren's financial well-being means they will continue to be patient with regard to a title sponsor.

Following Vodafone's withdrawal at the end of last season McLaren were due to announce a successor in December, but nothing materialized.

Earlier this year Dennis then remarked a new sponsor would be signed up after the first two or three races, but again all remained quiet.

Asked about the current situation, Boullier replied: 'We will announce it when we sign one. Obviously we haven't announced anything because we haven't finalized anything.

'There is no one-off reason. There are a few delays because there is nothing to sign or ready to be signed. Performance doesn't help, and the world economic situation is not the best, but McLaren has 32 partners and sponsors, so we are fine.'