Home / Auto News / News article: Venezuela Invests In Williams Formula 1 Team, Installs "Socialist" Pay Driver - AutoGuide.com News
 |  Jan 17 2011, 2:47 PM

Desperate times call for whoring yourself out for money desperate measures, and with the Royal Bank of Scotland pulling their funding from the Williams Formula 1 team, the outfit had to come up with some money, and fast.

One group able to come up with the money was PDVSA, the Venezuelan owned state oil company, who managed to chip in $14 million dollars, and effectively force Williams to sign Venezuelan driver Pastor Maldonado. Maldonado is an avowed supporter of President Hugo Chavez, making his signing barely more palatable than the patronage that may have gone on if a Venezuelan minister’s child was given a Formula 1 seat.

Who would have thought there would be a less evil team than Ferrari?

[Source: Reuters]

  • Hector Betancourt

    Headline news: Unfortunate F1 Team does not know Hugo Chavez is a jinx

  • Alek Boyd

    Very appropriate comment Derek, it places things into context. Never mind the fact the Frank Williams has officially joined the patronage list of a dictator, a list that includes notorious terrorist organisations, drug traffickers, and wanted criminals as members.

  • Pedro

    While I agree receiveing money from dubious democracies is not a good idea and can eventually fireback, we need to wait and see if Maldonado would deliver based on his skills or it was as described above just product of a $$ negotiation… time will tell..

  • DoneByDoug

    Communist. Socialist. Capitalist. Pick your evil. Money is money, and it’s all dirty at some level.

  • David

    Just be thankfull the money is being used in motorsport were it WILL all be used up,rather than being used for some evil,williams need to be kept in f1,remember WE bailed out the banks are they any less evil !!

  • Escoces

    Maldonado has shown his ability and dedication as a driver. It might stick in the throat of the rich – but why shouldn’t state industies like PDVSA support their country’s sportsmen and women. When big business that payroll (and buy) rightwing political parties all over the world and payroll teams and rich-kid drivers thats OK. Yet we get plenty of whining when a Venezuelan state industry does it !