LONDON -- McLaren Group denied a report that it has been bought by Audi but said it is open to technology collaboration "with relevant partners and suppliers."
Reports over the weekend said Audi and its rival BMW are competing to purchase the financially troubled UK supercar maker.
BMW is eyeing McLaren's supercar business, while Audi is looking at its Formula 1 racing unit, Automobilwoche reported Sunday.
The British motoring magazine Autocar quoted a source saying that Audi had submitted an offer to buy McLaren and had reached an agreement with Bahrain's sovereign wealth fund, which controls McLaren.
McLaren said the Autocar report "is wholly inaccurate" and there has been no change in its ownership structure.
"McLaren's technology strategy has always involved ongoing discussions and collaboration with relevant partners and suppliers, including other carmakers, however, there has been no change in the ownership structure of the McLaren Group," the company said in an emailed statement to Automotive News Europe.
Audi told Reuters earlier that it regularly considers different cooperation opportunities, but it did not comment on the specific case of McLaren.
Automobilwoche reported Sunday that BMW will hold talks with Bahrain’s sovereign wealth fund, Mumtalakat, at the beginning of next month.
A BMW spokesman said that the Automobilwoche article was "wrong."
McLaren has been attempting to repair its finances following the impact of the pandemic. The company has sold and leased back its headquarters in Woking, near London. It also sold a stake in its racing unit to a consortium of U.S.-based investors and raised money from new and existing investors, including Bahrain and Saudi Arabia’s sovereign wealth funds..
Last month CEO Mike Flewitt resigned from the supercar maker after eight years at the helm.
Bloomberg and Reuters contributed to this report