News Details

Maldonado's future uncertain as funding to be cut

Pastor Maldonado's future in Formula 1 may come to an end if he can't prove his talent alone is worthy of a drive, after news that his funding could be cut. The Venezuelan receives around £25 million ($42m) a year from his country's government via state-owned oil company PDVSA, which makes him an attractive prospect to any cash-strapped team. However Venezuela's new sports minister, Antonio Álvarez, has stated that all motorsport funding will be redirected to other sports, bringing an end to Maldonado's financial backing. "I know I am going to make some enemies, but there will not be another dollar for motorsport," he explained in an interview with Ultimas Noticias....
Full Story »
9mo ago from TheF1Times.com 0
Share

You May Also Be Interested In...

Sports minister hints Maldonado money at risk

Lotus F1 Team Venezuela's new sports minister has hinted that Pastor...
9mo ago from F1Zone.net

Venezuelan government funding may end for Maldonado

Hugo Chavez with Pastor Maldonado in 2011 The Formula 1 party may soon be...
9mo ago from GrandPrix247.com

Formula E gets £40m funding boost

The ten Formula E team principals at the Donnington Park launch of the...
9mo ago from espnF1.com

Maldonado's Venezuelan backing could end

May 20, 2014 .- The F1 party may soon be over for Pastor Maldonado. Until...
9mo ago from F1Plus.com

Elsewhere On The Network

Popular On MotoGPToday.com

Miller: We need to work on saving tyres

Jack Miller's promotion to MotoGP has set tongues wagging up and down the...

The 2015 Shell Advance Asia Talent Cup begins with a...

The second season of the Shell Advance Asia Talent Cup begins in earnest...
6h ago from MotoGP.com

VIDEO: Iannone - The Ducati is fantastic!

Andrea Iannone has high hopes for the 2015 MotoGP World Championship...
13h ago from Crash.net

Pedrosa not worried about lack of a fast time

Dani Pedrosa spent the week working on the Honda engine and having...

Popular On TotalWRC.com

Rally Mexico: Event timetable

Complete event timetable for Rally Mexico, the third round out of 13 in...
1h ago from Crash.net

Rally Mexico: Sky-high round for the DS 3 WRCS

At close to 2,800 metres above sea level, the Citroën Total Abu Dhabi...
3h ago from Motorsport.com

Mexico countdown: rally route

The WRC returns to hot gravel roads for the first time since the opening...
7h ago from WRC.com

Sordo cleared for Rally Mexico after injury

Dani Sordo has been given the green light to return to the World Rally...
11h ago from Motorsport.com

Popular On GunnersToday.com

Wenger to shake up the back line, Ospina dropped:...

The Gunners have a fantastic opportunity to respond to their catastrophic...
51m ago from AllArsenal.com

Prediction: Arsenal vs Everton

Arsenal host Everton on Sunday afternoon in the latest Premier League...
2h ago from FreshArsenal.com

Arsenal team news and line-up v Everton: Gabriel to...

Arsenal will be keen to make amends for their appalling showing against...
5h ago from TalkSport.com

Arsenal announce £11m profit

Arsenal have again returned robust financial results in their latest...
6h ago from Football.co.uk

Comments

comments powered by Disqus

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.