According to Autosport, former McLaren driver Kevin Magnussen is set to replace Pastor Maldonado at Renault factory F1 team for the 2016 season.
Autosport reveals that the move follows a disagreement between the French car manufacturer and Maldonado’s long-time sponsor PDVSA, Venezuela’s state-owned oil and gas company, that has led to the contract being dissolved.
Reports first surfaced earlier this month that Magnussen had been at the team’s Enstone base for two days of talks with senior management.
Still the subject not officially confirmed, below we added some possible reasons why Renault replace Pastor. Also we believe the main reason of Maldonado’s exit is the sponsorship problems (Renault and PDVSA).
Trouble with PVDSA
Maldonado was backed by a reported $50 million a year in the form of controversial sponsorship by the Venezuelan state oil company PDVSA.
PDVSA, however, is embroiled in a corruption scandal, and Britain’s Telegraph newspaper confirms that the “political uncertainty in Venezuela” has put more pressure over Maldonado’s race seat. BBC also reports that PDVSA’s payment of around £35million is several weeks overdue.
Renault won’t a title sponsor
The French multinational automobile and motorsports engine manufacturer Renault have very healthy funds for challenge in Formula 1.
Renault paid just £1 to take over the Lotus F1 team in last December. The French manufacturer purchased 90 percent of the company through Grigny Ltd, a wholly-owned subsidiary firm, with the token £1 payment and by writing off £98.2 million in debt which Lotus had accrued through shareholder loans.
Now the team is safe mode, Renault already a well know automotive brand all over the world, they won’t PDVSA support, also Venezuela’s state oil firm now in difficult condition following lower oil prices.
Poor results and extra bill
Maldonado made nine retirements in last season and he scored 27 points compared to Lotus team-mate Romain Grosjean’s 51.
The Venezuelan has also get lots of extra expenses, particularly in the spare parts sector. A front wing alone costs around £150,000 each, and every F1 fans know how many he has broken.
Brand new Renault looking talent
Certainly we know than, Kevin better than Pastor, he made his F1 debut with McLaren in 2014, scoring a podium on his debut and frequently matching and beating team-mate world champion Jenson Button.