zzdcar
Home
/
Reviews
/
Racing
/
Report: Maldonado May Lose F1 Seat Because Pay Drivers Must Pay On Time
Report: Maldonado May Lose F1 Seat Because Pay Drivers Must Pay On Time-September 2024
2024-02-19 EST 22:11:35

Dropping oil prices may have an unexpected effect on Formula One fans’ favorite . The reports that Renault (née Lotus) driver Pastor Maldonado may be out of a ride if sponsor PDVSA doesn’t cough up a $50 million payment ASAP.

PDVSA is Venezuela’s national oil company, and cheap fill-ups around the world mean that Venezuela’s oil-heavy economy is hurting for cash. Per the BBC, insiders say that the situation may have been leaked as a way to pressure PDVSA into coughing up the cash.

The driver lovingly referred to as “Crashtor” was originally sponsored by the state oil company under Venezuelan president Hugo Chavez under the guise of boosting Venezuela’s prestige, and current president Nicolas Maduro continued the sponsorship after Chavez’s death in 2013. reports that Maduro lost the support of Parliament after the December elections, which complicates the matter considerably.

Maduro just declared a 60-day economic emergency in response to Venezuela’s shortage of basic goods and soaring inflation rates, per the ’s latest report. Maduro will rule by decree for the next two months, but as he blames his political opposition for much of Venezuela’s economic strife, it is uncertain as to whether the center-right opposition coalition that controls Parliament will put up with that.

According to the BBC, if PDVSA doesn’t pay up soon, that seat will go to Kevin Magnussen, who was given a tour of the Renault factory in Oxfordshire last week. Renault’s other driver, , is reportedly set for the season. They just need to nail down the roster before a February media launch.

Renault is denying the rumors, of course. A team spokesman told the BBC:

It’s speculation at the moment. We have a contract with Pastor. That is the current situation.

Who knows what could happen by Australia but, at the moment, we are going forward with Pastor and Jolyon.

The BBC could not reach Maldonado’s manager Nicolas Todt for comment.

Renault was able to pick up the Lotus F1 team because the courts felt as if the company would be able to pay off Lotus’ debts. Having $50 million less than expected before the season even starts is a significant snafu, and reports Renault has previously suggested that Maldonado’s money was a contributing factor in their decision to pick up the team.

What would happen to Magnussen if Venezuela can pay for their driver to stay in F1? Well, Renault hasn’t announced a reserve driver yet, and reports that the reserve role would be Magnussen’s most likely role if Maldonado were sticking around.

Contact the author at .

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Racing
Nissan Wants Its V8 Supercar Altimas To Look More Like The Real Deal
Nissan Wants Its V8 Supercar Altimas To Look More Like The Real Deal
So, Michael Caruso's car is belching smoke like a QR25DE with a blown head gasket. A+, guys, as a former Altima driver, I can confirm that this looks very realistic, not to mention familiar. Water in the exhaust was the culprit here. Screencap via . ...
Sep 15, 2025
Susie Wolff Just Can't Get Her DTM Car To Do A Burnout
Susie Wolff Just Can't Get Her DTM Car To Do A Burnout
Mercedes recently hosted its Stars and Cars event in Stuttgart for the year, and apparently DTM cars aren't the burnout machines you'd think they'd be. Poor Susie Wolff just can't get hers to break traction. Stars and Cars is Mercedes' celebration of a great year in racing, and they scheduled...
Sep 15, 2025
BMW's Extra-Long
BMW's Extra-Long "Enter All The Sportscars" Press Release, tl;dr'd
BMW, like any company worth its salt who wants to stay in good graces with enthusiasts despite making bigger, heavier and more complicated cars, does a lot of racing. Recently, they sent out a outlining their extensive motorsport plans for next year. Here is the tl;dr version for your convenience....
Sep 15, 2025
Here We Go Again: V8 Supercars' Finale Is Suspended For Being Soggy Wet
Here We Go Again: V8 Supercars' Finale Is Suspended For Being Soggy Wet
V8 Supercars' second race for the day of the has just been red flagged on lap 45 due to torrential downpours. It's a complete mess out there with too much standing water for even wet tires to deal with. Flooding has been reported in pit lane. Thirty laps remain to...
Sep 15, 2025
Ford Racing Pays Tribute To The Guys Who Keep The Cars Running
Ford Racing Pays Tribute To The Guys Who Keep The Cars Running
We don't usually think of it this way, but nearly every form of motorsport is a team sport. Behind every driver is a whole host of people who keep the team and its cars running. This is the . We've mentioned before that support crews are the unsung heroes of...
Sep 15, 2025
A Mercedes ML320 SUV Is A Hilariously Unwieldy Rallycross Beast
A Mercedes ML320 SUV Is A Hilariously Unwieldy Rallycross Beast
Will a 1999 Mercedes ML320 drift? Absolutely. Here is the big beast in all its glory, just in case you've forgotten what one of Mercedes' first non-military-grade SUVs looked like. This, of course, was the ideal vehicle to tackle the last New England Region SCCA rallycross of 2014. It belongs...
Sep 15, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved