It has been revealed that Quadrant, the entertainment and gaming brand founded by McLaren F1 star Lando Norris, has slumped into the red.
The London-based business has reported negative total equity of £405,221 for 2023, its latest financial year.
The total, revealed in newly-filed accounts with Companies House, comes after Quadrant posted a positive total equity of £192,458 for 2022.
A firm’s total equity is the value left in the company after subtracting its liabilities from its assets.
Major funding round for Lando Norris’ Quadrant
The news comes after Lando Norris’ company closed a seven-figure investment round in January this year.
The raise also saw YouTuberer ‘WillNE’, whose real name is Will Lenney, become a co-owner.
Quadrant’s shareholders also include Veloce Esports, which counts Adrian Newey among its team.
Lando Norris’ manager and driving coach, Mary Berryman, also holds a stake through his Add Management company.
The largest single stake in Quadrant is held by Lando Norris and his dad, Adam, through Celero Promotions.
Wakefield-based United Autosports, which is co-owned by McLaren CEO Zak Brown, also owns shares in Lando Norris’ business.
Ruffer’s investment chief, Henry Maxey, Jim Esposito, the former head of Goldman Sachs’ investment bank and Workday CEO Carl Eschenbach are also shareholders.
Shares are also held by Volution CEO Ronnie George and Leda Braga, the founder of Systematica Investments.
TVS Motor, which owns Solihull-headquartered Norton Motorcycle, is also a backed through a company based in Singapore.
As of September 2024, Lando Norris is currently second in the Formula 1 standings, behind world champion Max Verstappen.
The 24 year old has been racing with McLaren since 2019 and has three wins to his name to date.
He took his maiden career win at the Miami Grand Prix this year and repeated his success in the Netherlands and Singapore.