Williams F1 Ends PDVSA Sponsorship Ties after Maldonado Exit

Formula 1 team Williams have revealed they will end their association with Venezuelan state oil company PDVSA at the end of the season following the departure of driver Pastor Maldonado from the team.

Maldonado, a native of Venezuela, was replaced earlier on Monday by Brazilian Felipe Massa who made the move from Ferrari.

Claire Williams, Deputy Team Principal at Williams, told Reuters: “It (the branding) won’t be on the car for next year.”

“There is no (further) connection with PDVSA as obviously Pastor is now leaving the team.”

Maldonado has been backed by the oil giant throughout his career and his sponsorship millions have been eagerly sought by other teams. Williams said the driver had taken the decision to look elsewhere.

“We wish him well in that new challenge and we have to see where he ends up next year, but the Williams team won’t have a connection to Venezuela next year,” she said.

The PDVSA sponsorship deal was with Williams, rather than a specific driver, and still had another two years to run.

The Venezuelan money made up a significant part of the Williams budget but sources indicated the team will be sheltered from any immediate impact by highly favourable severance terms.

“I think when our numbers come out next year, people will see what has actually gone on behind the scenes with this whole arrangement,” said Claire Williams.

Williams identified Brazil as a suitable replacement in terms of bringing in the financial backing.

“I think Brazil is one of the sport’s biggest markets, so it’s really up to us to go out and commercialise Felipe as our driver.”

“We’ve been operating and looking for sponsorship in the Brazilian market for a long time now, we’ve had great Brazilian partners in the past. So we will be going out to Brazil to see what we can do out there.”

“I hope we can bring some important companies to Williams from Brazil, I think Brazil is in a good moment and Williams has everything to give a good image,” Massa told Reuters. “So it would be nice to have some Brazilian sponsors as well.”

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