83 replies to this topic

[mattferg]

Reports are streaming in from around the world (CNN and Reuters on twitter) reporting the death of Hugo Chavez, the Venezuelan President and a close friend of one P. Maldonado.

Source: http://www.cnn.com/2...main/index.html

This thread is not to discuss his death or his government and how they ruled Venezuela, but to discuss how this affects Maldonado, and more specifically, the sponsorship he gives Williams.

Source: http://www.guardian....do-f1-venezuela

Maldonado is directly funded by a government controlled company, PDVSA, and with the possiblity of Chavez's death comes government reforms, which may not be willing to give Williams £27m.

Please discuss, but refrain from discussing Chavez and his politics, as after all this is a racing forum.

[tomisumi]

1-2 days ago I read discussion somewhere here about Maldonado and how Chavez´s death could affect his future...and few minutes ago I turned on FB and saw article...Chavez is death...silly

[Ross Stonefeld]

Probably won't matter.

[mattferg]

Probably won't matter.

I disagree - if the new figurehead decides that 27m is better spent in Venezuela, Maldonado could lose his seat! Not that I want that.

[Disgrace]

This thread is not to discuss his death

Not with a title like that you don't. Just lock it already.

[Brandz07]

So potential bad news for...

Pastor Maldonado (F1)
Johnny Cecetto Jnr (GP2)
Venezuela GP Lazarus (GP2)
Giancarlo Serenelli (GP2)
Rodolfo González (GP2)
Samin Gómez (GP3)
Roberto La Rocca (GP3)

Who all seem to have backing.

Edited by Brandz07, 05 March 2013 - 22:24.

[Pilla]

I thought it was financed by PVDSA which is a State owned company that trades internationally. Surely if they have a contract then they won't be able to break it? They would be dragged through international courts by Williams.

Hopefully the sponsorship is there for this season, and that the car performs well enough that new sponsors are attraced + prize money softens the blow of any loss.

[olliek88]

(I'm trying to keep political talk at a minimum but its kind of relevant, with all the knock on effects and so on!)

Venezuela is struggling a bit, prices are soaring and there's a shortage of basic goods, plus the opposition could well use this to try and gain a foot hold now the big figure head of Chavez has gone, apparently a lot of Chavez's followers share this view -

“With Chávez everything, without Chávez nothing.”

So it could have an effect for Pastor if the opposition get in, even if not Chavez's government might crumble without him, but at the earliest it won't affect Pastor until 2014, at a guess anyway! (One assumes PDVSA have already coughed up for 2013)

Edited by olliek88, 05 March 2013 - 22:26.

[D.M.N.]

Title changed - please keep on the topic of motor sport though. Thanks

[mattferg]

(I'm trying to keep political talk at a minimum but its kind of relevant, with all the knock on effects and so on!)

Venezuela is struggling a bit, prices are soaring and there's a shortage of basic goods, plus the opposition could well use this to try and gain a foot hold now the big figure head of Chavez has gone, apparently a lot of Chavez's followers share this view -

“With Chávez everything, without Chávez nothing.”

It could have an effect for Pastor but at the earliest it'll be 2014 i'd guess.

As long as it's relevant to the sponsorship it should be fine I think this HAS to have some implications for his sponsorship. If opposition forces do want more money spent in Venezuela, a Formula 1 driver is definitely a prime target. It's interesting to wonder though whether Maldonado has proved himself enough as a driver to get a seat without his money?

Title changed - please keep on the topic of motor sport though. Thanks

Thankyou!

Edited by mattferg, 05 March 2013 - 22:26.

[halifaxf1fan]

Has Maldonado made a statement about his sponsor's death yet?

It will be interesting to to see if he gives any hints on potential impact to his F1 career.

Edited by halifaxf1fan, 05 March 2013 - 22:32.

[D.M.N.]

Will Buxton ‏@willbuxton
One must ask what impact death of Chavez & the resultant election will have on the use of Venezuelan public finance to fund racing drivers.
10:29 p.m. - Mar 5, 2013

[Ross Stonefeld]

Not really. It's not as simple as Chavez personally saying they have to spend that money on racing. It's part of a national sponsorship program as well as the benefits to the company. There are other people in the government and indeed within PDVSA.

[pingu666]

theres a bunch of sportscar drivers who get pdvsa/tourist money too

was milka duno pdvsa backed?

[ANF]

Not really. It's not as simple as Chavez personally saying they have to spend that money on racing. It's part of a national sponsorship program as well as the benefits to the company. There are other people in the government and indeed within PDVSA.

Or perhaps it was that simple. Who knows.

[katmen]

what if chavez died in short time would have maldonado funds for racing? maybe his place will be vacated

who has 30 millions for race seat?


no, silly season 2013 is far from close matter

do not ask me lotto numbers!

I think, that there will be revolution in Venezuela, it is only matter of time.

It could be interesting for autosport staff to ask williams if pdvsa money arrived to their account. I hope that Maldonado is not Razia case. Feel sorry that PDVSA money are in jeopardy for Williams, they need funds badly.

[Anderis]

As far as I know. PDVSA has already paid Williams for 2013 season.

[halifaxf1fan]

As far as I know. PDVSA has already paid Williams for 2013 season.

Potentially without the PDVSA money in 2014 forward will Williams be able to stay on in F1?

Edited by halifaxf1fan, 05 March 2013 - 23:06.

[charly0418]

Yeah, Maldonado and Cecotto should be safe for this season.... after that who knows...

Maldonado is gonna have to impress this season, might be a do or die season for him

Edited by charly0418, 05 March 2013 - 23:07.

[Anderis]

Potentially without the PDVSA money in 2014 forward will Williams be able to stay on in F1?

Yeah. They have no debt ATM. They are making gains on F1 each year. PDVSA exit would be a big loss for their budget, but not really enough to force them out of F1. Don't forget they can take another pay-driver instead of Pastor.

But it may seriously affect their competitiveness or financial health in short term.

[katmen]

what if maldonado would be stripped citizenship of venezuela for non compliance with a new government, there will be a no passport, no visas situation.... and no entry to several countries.....

[Red17]

was milka duno pdvsa backed?

At 200%. She went as far as to show up on TV praising Chavez.

Obviously this is a long term subject that has little impact on the short term.
On the medium term I can see Williams putting all their effort this season in showing they are fast and get a new sponsor package that quietly replaces PDVSA in 2014 if the mood changes in Venezuela.
This year should be paid already, so no more sad Razia incidents. (at least in 2013)

[eronrules]

aside from Formula one, doesn't PDVSA also sponsors EJ Viso in IRL??? i wonder if it comes to dropping one particular sponsorship ... weather they'll drop Viso??? i don't really know BTW the amount spent on Viso.

[mattferg]

what if maldonado would be stripped citizenship of venezuela for non compliance with a new government, there will be a no passport, no visas situation.... and no entry to several countries.....

That's not really how citizenships/passports work. If he lost his Venezuelan citizenship, another state would probably willingly accept him as their own.

http://en.m.wikipedi...sness#section_4

Edited by mattferg, 05 March 2013 - 23:29.

[Gag� Bueno]

Or perhaps it was that simple. Who knows.

+1

The announcement of the sponsorship, at least, was really like 'he asked me and than I called PDVSA and it was all clear'. And knowing who, and on which 'merits', runs state-owned companies over there, all is possible...

Edited by Gag� Bueno, 05 March 2013 - 23:31.

[KavB]

Even without funding, I think Maldonado would easily find a seat (if he keeps calm this season). He's a proven winner. Williams would be in a bit of a pickle though.

[tomisumi]

if he keeps calm this season

Big IF!

[saudoso]

Even without funding, I think Maldonado would easily find a seat (if he keeps calm this season). He's a proven winner. Williams would be in a bit of a pickle though.

No he won't. He's done.

[Doughnut King]

I'd forgotten about the sudden influx of Venezuelan driver in the past few years. Indeed, it will be interesting to see what becomes of their sponsorship.

[fabr68]

The only way for Maldonado to stay is to find his own sponsorship and do it like Montoya did. He did win a race after all

No way he will be receiving tens of millions of taxpayer dollars from Venezuela anymore.

[showtime]

Most of you are taking for granted there will be a huge change on Venezuelan government. Assuming too much IMO.

[Ferras]

Am I the only one thinking this could be crucial for Bottas too?

[SPBHM]

I don't think it automatically changes anything... PDVSA can still think this is a good idea to sponsor these drivers, also, if his chosen successor stays in power (seems likely?), things may not change much!?

[TFLB]

I don't think it will affect much, I don't think it's like PDVSA were coerced into funding him by Chavez and will stop at the earliest possible opportunity.

[Wolf]

The trouble with Maldonado is- Chavez money bought him out of trouble with Monaco organizers once before (ISTR their sommersault at the expense of credible sources, like our ****), but he better watch his step now... If I'm familiar with 'banana republic' mentality (and I should be), he'll still receive govt funding, but should he make another wrong step, the money will go in a puff of smoke.

[Kingshark]

Maldonado is a proven race winner, and on top of that, proven to be a genuinely fast driver. He did win Williams' first race in 8 years, and since Grosjean's ban for the Spa madness, has kept himself out of any trouble. He deserved a podium in both Singapore and Abu Dhabi, but was prevented from doing so on either occasions due no fault of his own (Hydraulics & KERS failures).

However, as a result of this, if PDVSA does make the bold decision to stop backing Williams; then this will hugely affect both drivers chances of retaining their seat, including Bottas; as Williams most likely will be desperately searching for new sponsorship money.

Edited by Kingshark, 06 March 2013 - 04:28.

[SB]

Even without funding, I think Maldonado would easily find a seat (if he keeps calm this season). He's a proven winner.

Some other 'decent' drivers (and winners) like Kovalainen, Glock or Kobayashi could not get a seat for coming season, I think Maldonado would not be a big different if he lose his state-money.

[Jimisgod]

No he won't. He's done.

lol what? If Grosjean can find a seat, Maldonado can definitely find one. They have similar weaknesses, only Grosjean's weaknesses are much bigger and Romain has much less speed to offer. And no wins.

Maldonado was monumentally impressive at the end of the year, except his car fell apart in Singapore and he was spun out by Webber in Abu D.

Hell, he might take Grosjean's seat in 2014.

[packapoo]

On the positive side, Pastor had already incentive to lift his guide this season with Bottas on board.
Even better now with the cash cow tottering, he must mature.

As I write this I see confirmation of Chavez' passing on the TV news tonight.

[Jovanotti]

Perhaps Pastor will have to fly home and do a bit more of this to save his seat.

On a more serious note, if Maldonado manages to keep out of trouble this year I can see another team picking him up without the PDVSA money, because he undoubtedly has the potential to be a very good F1 driver.

[seahawk]

Pastor is way too popular in Venezuela for any new government to cancel the support.

[aray]

Maldonado is safe for this season...i think that PDVSA won't withdraw from F1 outright..but they will decrease the investment drastically from 2014 or so...

[The Kanisteri]

I don't like any goverments and politics taken part on sport, so if Maldonado has to go due lack of state funding, he has to go.

[handel]

Aren't they paying seriously over the odds to put Pastor in F1 anyway? They might just try to drive a harder bargain and view that as a win.

[NotSoSilentBob]

Most of you are taking for granted there will be a huge change on Venezuelan government. Assuming too much IMO.

I agree, however;

I believe the current Vice President would be the frontrunner when there's an election (next 30 days, apparently) so there's likely no change in the short term (2013), but money for racing drivers would likely be severely reduced under a new socialist President, and probably removed altogether if the socialists dont win an election.

Motor racing was Chavez's pet project.

[Lotusseven]

Pastor is way too popular in Venezuela for any new government to cancel the support.

I read on another F1forum that the main rival in the Venezuelan election had said he would stop all financial support to Williams F1 Team. Is that true ?

[balage06]

lol what? If Grosjean can find a seat, Maldonado can definitely find one. They have similar weaknesses, only Grosjean's weaknesses are much bigger and Romain has much less speed to offer. And no wins.

Maldonado was monumentally impressive at the end of the year, except his car fell apart in Singapore and he was spun out by Webber in Abu D.

Hell, he might take Grosjean's seat in 2014.

[Little Leaf]

I read on another F1forum that the main rival in the Venezuelan election had said he would stop all financial support to Williams F1 Team. Is that true ?

Who is the main rival and where is the quote?

[noikeee]

Not really. It's not as simple as Chavez personally saying they have to spend that money on racing. It's part of a national sponsorship program as well as the benefits to the company. There are other people in the government and indeed within PDVSA.

Okay but it's still a major political climate change that could have mid/long-term implications. Nobody's going to shred signed contracts, but a change in government may want reforms in the company they own, and a pretty gigantic fee invested in slapping a PDVSA name in a racing car is going to be under some questioning. Not to mention if the opposition grabs the power they may make such excesses a public vendetta to get rid of.

Don't forget Venezuela is the country Chavez went around and nationalized banks, TV channels, anything that he saw fit at his whim, PDVSA is a nationalized company. The level of power and influence the government have is immense, it's nothing like a normal Western civilized country where things are separate and there's a respected hierarchy.

Over here under socialist government the "Tourism of Portugal" paid for Tiago Monteiro's F1 adventure, and there was a "public-private partnership" funding Tiago's GP2 team. Then the social-democrats took over, the economy blew up and we had to call for international financial aid, and there's no longer any racing under the Portuguese flag because they'd be skinned alive by the public if seen doing that, not to mention it's not Tiago's mates in power anymore doing sweet deals for him. None of this happened overnight, Tiago was racing in F1 7 years ago, it wasn't merely a national level change it was an international major financial crisis, but it's still an half-arsed example that shows how political climate change could affect this sort of programs.

If I were in charge of Williams I wouldn't be ringing the alarm bells yet, but would definitely quietly prepare a contingency plan.

[Rosberg]

Hugo Chavez had cancer for over a year so Williams would of thought about dropping Maldonado but as someone said in here, Maldonado's sponsor will pay for this season after it was agreed to last season. I can't see Maldonado being dropped for 2014, who will replace him?