أرشيف وسم ‘ PDVSA ’

Posted on Thursday, May 22, 2014

Maldonado denies Venezuelan backing to end

Pastor Maldonado has denied his sponsorship backing is ending. Early this week, the new Venezuelan sports minister Antonio Alvarez warned the country will not spend "one more dollar" on motor racing. But until now, 29-year-old Maldonado, famously close to Venezuela's late president Hugo Chavez, has been powered by state millions through the oil company PDVSA. For 2014, that lucrative backing was moved from Williams to Lotus, where Maldonado has endured a nightmare start to his fourth season on the grid. But in Monaco on Wednesday, […]

Posted on Tuesday, May 20, 2014

Sports minister hints Maldonado money at risk

Venezuela's new sports minister has hinted that Pastor Maldonado's funding could be at risk. Maldonado's racing career has been hugely financed by Venezuelan state-owned oil giants PDVSA, but the death of Hugo Chavez in 2013 sparked a period of unrest in the South American country. Maldonado, who moved from Williams to Lotus at the start of 2014 and has yet to claim a championship point, had a good relationship with Chavez but the new sports minister has indicated that Maldonado's funding could soon run dry. […]

Posted on Wednesday, January 15, 2014

Lopez plays down Lotus collapse fears

Lotus owner Gerard Lopez has moved to allay fears the Enstone based team is on the verge of collapse. When the FIA issued the official 2014 entry list recently, Lotus' place was marked with a conspicuous asterisk, fuelling rumours of financial doom. "We just had the wrong team name on the list, namely the one of two years ago," Lopez told Germany's Auto Motor und Sport on Wednesday. "I can assure you -- everything is still the same." Despite the reassurance, however, many wonder if […]

Posted on Monday, December 2, 2013

Grosjean not sure if Lotus budget in place

Romain Grosjean has admitted he is not sure if Lotus' money problems have been solved. The Enstone based team had been delaying signing its preferred option to replace the disgruntled Kimi Raikkonen - Nico Hulkenberg - until the money from the much-vaunted 'Quantum' investment came through. Ultimately, while re-signing the impressive Frenchman Grosjean, Lotus announced on Friday that his new teammate will be Pastor Maldonado. The press release made no mention of the Venezuelan's backing, but it is well known that he brings around EUR […]

Posted on Friday, November 29, 2013

Maldonado joins Grosjean at Lotus

Venezuelan Pastor Maldonado has been named as Lotus' driver for the 2014 season alongside France's Romain Grosjean, the team officially confirmed on Friday. Maldonado has spent three seasons with Williams, winning the Spanish Grand Prix in 2012, but only notched up one point this season with his 10th place in Hungary. The 28-year-old, supported by state-owned Venezuelan oil and gas giant PDVSA, announced at the start of the month he was quitting the team, leading to talks with Lotus and Sauber. "It is a fantastic […]

Posted on Saturday, November 23, 2013

Lotus hopes for Quantum deal 'next week'

Lotus insists the team's 35 per cent sale to Quantum remains on track, even though the investment group missed its latest deadline set by chief Mansoor Ijaz. Ijaz had said in Austin that the deal would be complete by the end of this week, but team boss Eric Boullier now says he is hoping to settle the issue "by early next week". "Well, there is still some discussion ongoing, especially now between bankers," the Frenchman said in Brazil. "The process is not fully completed but […]

Posted on Friday, November 22, 2013

Maldonado and Hulkenberg keys to 2014 'silly season'

Pastor Maldonado and Nico Hulkenberg remain the keys to the last phase of F1's 2014 'silly season'. PDVSA-backed Maldonado, a grand prix winner, is the powerful 'pay driver' on the move, reportedly with EUR 40 million in tow and on the lookout for a new team after his Williams split. It is believed that if Lotus' 'Quantum' investment deal falls through, locking the highly-rated Hulkenberg out, Maldonado is in pole position to replace Kimi Raikkonen in 2014. But Maldonado muddied the waters at Interlagos on […]

Posted on Saturday, November 16, 2013

PDVSA says Maldonado 'working on' Lotus switch

According to the paddock grapevine in Austin, Nico Hulkenberg is no longer in the running for the 2014 race seat at Lotus. Venezuelan oil minister Rafael Ramirez has hinted to the newspaper El Nacional that Pastor Maldonado's PDVSA millions are being switched from Williams to Lotus. "The team is changing (from Williams) and what he is working on is going to Lotus," said the PDVSA president. Maldonado confirmed: "We are talking to teams but we are quite clear about where we want to go. "I […]

Posted on Thursday, November 14, 2013

Maldonado visits Sauber's Hinwil base

Pastor Maldonado has leapt into contention for a Sauber seat in 2014. Blick newspaper's veteran F1 correspondent Roger Benoit reports that the Venezuelan, whose lucrative backer PDVSA has already exited its deal at Williams, "was at Hinwil" this week. Benoit, who said Maldonado was accompanied to Switzerland by his manager Nicolas Todt, said Sauber did not confirm or deny the news. The EUR 40 million per year PDVSA deal would be desperately welcomed by Sauber, who have struggled financially throughout the season. It was believed […]

Posted on Wednesday, November 13, 2013

Hulkenberg turned down offer to replace Raikkonen

Nico Hulkenberg turned down an offer from Lotus to replace the surgery-bound Kimi Raikkonen for the remaining two grands prix of 2013. German Hulkenberg, who currently drives for Sauber, is the hot favourite to replace Raikkonen full-time in 2014, but only if financially-struggling Lotus completes its crucial investment deal with the Quantum group. If that deal collapses, as many insiders believe it will, Pastor Maldonado - who will not drive for Williams next season - is tipped to switch his lucrative PDVSA backing to the […]

Posted on Saturday, October 26, 2013

Lotus admits talks with Maldonado

Eric Boullier has admitted Pastor Maldonado is in the running to race for Lotus in 2014. But at the same time, the Enstone based team's boss made it clear that his preferred pick to replace the Ferrari-bound Kimi Raikkonen is Nico Hulkenberg. "I would love to (sign him)," Frenchman Boullier told F1's official website. "This is the recommendation that I gave to my board." The board, however, will have to weigh its decision against financial considerations, with Lotus' 35 per cent sale to a group […]

Posted on Friday, October 25, 2013

Grosjean names Hulkenberg as ideal teammate

Romain Grosjean has named Nico Hulkenberg as his ideal new teammate at Lotus for 2014. As it stands, even Grosjean's place at the Enstone based team is not guaranteed, even though he said bosses are happy with his performance. Grosjean told RMC Sport: "It is a very good moment where everything is going pretty well. The car is good and I feel good. "I feel good here but I think they (Lotus) are trying to solve the financial trouble and it puts everything else on […]