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How Williams Came Out on Top After Departure of Pastor Maldonado and PDVSA
Published: May 4, 2014
Many smiles appeared in the vicinity of Grove in Oxfordshire, but it wasn't all good news.
Maldonado's career is funded by the Venezuelan government, through state oil company PDVSA. Since Maldonado made his F1 debut in 2011, they had been paying Williams a massive amount—according to a leaked invoice reported on f1zone.net, at least £29 million per year—in sponsorship fees.
The money was dependant on Williams having a Venezuelan driver in the car. With Maldonado departing, PDVSA would be going as well—and taking their cash with them.
Williams were facing the possibility of a major financial problem.
But it turns out they've done extremely well from what could have been a very difficult situation.
PDVSA were Williams' only true major sponsor, whose presence on the car was so great it significantly affected the livery. Company logos adorned the sought-after rear wing, a prime spot on the engine cover and two key locations on the nose.
When they departed, that space was vacated and Williams could consider a real title sponsor, something they could not have realistically done before. They soon got one—Martini.
The drinks company is a full title sponsor and partner, and their colours have transformed the car into one of the best-looking on the grid. The value of the deal has not been disclosed, but it will go a long way to plugging the funding gap left by PDVSA.
And crucially, Williams do not have to employ a driver of Martini's choice.
This sort of requirement from a major sponsor is a huge millstone around any team's neck, and it must affect morale to know they have to keep a driver, regardless of how he performs.
There were positives for the team on the personnel sid...
Article Source: Bleacher Report - Formula 1
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