Williams confirms PDVSA sponsor deal

Williams has finally confirmed the new sponsorship deal with state-owned Venezuelan oil company PDVSA. Actually, the country's president Hugo Chavez announced the backing of the British team more than a month ago, because the new GP2 champion...

Williams has finally confirmed the new sponsorship deal with state-owned Venezuelan oil company PDVSA.

Actually, the country's president Hugo Chavez announced the backing of the British team more than a month ago, because the new GP2 champion needed "a lot of money" to enter Formula One.

Williams' official announcement of the "long term" partnership with Petroleos de Venezuala last Friday took place in the capital Caracas, where Maldonado demonstrated the 2010 car in the presence of Chavez and team chairman Adam Parr.

The Cosworth-powered FW32 car featured its usual blue livery but not many other sponsors, while 25-year-old Maldonado wore team overalls with yellow trim.

"They are a substantial partner and can make a meaningful difference to our fighting ability," said the team's boss Sir Frank Williams.

The Swiss newspaper Blick said the value of the deal is $43 million.

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Series Formula 1
Drivers Frank Williams , Adam Parr
Teams Williams