Senior management from the Renault F1 Team have reportedly visited Venezuela this week for crises talks with the government owned PDVSA oil company a major sponsor of the Enstone outfit and Pastor Maldonado’s main backers.

It has been revealed that PDVSA who are struggling due to drop in oil prices are behind on their payments to the Renault F1 Team with £50 million outstanding for the upcoming season which has raised serious concerns with management at the outfit and has also put a big question mark over Maldonado’s future with the team.

However a Renault spokesperson has confirmed that for the moment at least the team have Pastor Maldonado and Jolyon Palmer as their race drivers for 2016 however they admitted that the situation could have changed by the time the season starts in Melbourne in March,

Maldonado joined the Lotus F1 Team from Williams in 2014 replacing Kimi Raikkonen who returned to Ferrari.

Renault announced on Wednesday that they intend to announce their third driver next month. The team will announce further details of the management structure at an event in Paris later this month. Former team owner Gerard Lopez will on with the team while it is believed that current chairman Matthew Carter has left the outfit. It has also been reported that former F1 driver and four time world champion Alain Prost will join the outfit in a senior management roll potentially as the new team principal.



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