Williams remain silent over ongoing PDVSA deal investigation – Formula 1 news
Williams have denied commenting on the reports of a possible sponsorship deal end with Venezuelan Oil Company PDVSA because of the ongoing investigations into the contract.
The Congress of Venezuela has called for an investigation into the lucrative deal that the Williams team struck with the oil company. According to reports revealed by Autosport.com, the deal will be worth £21 - £30 million in the 2012 season. The variation
for next season is dependent upon the level of exposure the PDVSA brands logo would get on the car.
It has been speculated that because of the investigation, the sponsorship deal might be cancelled. Williams though has remained silent on the issue as of now, and probably will shed some light as soon as they see some clarity into the nature of the investigation.
If the deal is jeopardised, it will be a quite a blow to the Williams team as far as the financial support is concerned.
The Venezuelan congressman Carlos Ramos has called on the team to provide the details of the deal as questions have been raised over the terms and conditions of the contract in the parliament.
The news of an investigation broke with the revelation of a leaked letter by Carlos Ramos. In that letter, he said, “Further to Williams F1 sponsorship contract with PDVSA, I would like to ask for a copy of the original contract between Williams F1 and PDVSA,
for the purpose of an ongoing investigation in this respect that a commission of the Venezuelan Congress is undertaking.”
“As you may be aware, according to Venezuela's legislation, expenditure of the sort has to be approved by Congress. You may also be aware that our Congress has granted no approval to the sponsorship contract between Williams F1 and PDVSA,” he further added.
Ramos has also requested the details of the amount paid to Williams by PDVSA, and also requires the F1 team to provide the evidence of those payments made.
Williams however have declined to make any comments on the issue. Let’s see how these investigations shape up for the already troubled constructor on the Formula 1 grid.
Tags: