1%er
Well-Known Member
McLaren bring in new CEO for F1 team
He is the eminently qualified Jost Capito, the boss of Volkswagen Motorsport. He will replace Jonathan Neale (who himself was a temporary replacement for Martin Whitmarsh). I think this is all about leaving Eric Boullier free to concentrate on the F1 team and not mixed up all the time with trying to be a bridge between Honda and MaLaren. Capito has lots of experience with racing teams and also understands how manufactures operate, so is the ideal candidate to ease any tensions that arise between Honda and McLaren during this development process.
PDVSA late again with Maldonado payment
As I think was mentioned in the 2015 thread PDVSA are again late with their payment this year also, the Venezuelan state oil company (PDVSA) are late in making the $50 million payment for Maldonado's drive for the Renault F1 team, so maybe K-Mag could get a drive after all. The payment is about 7 weeks late but with the recent election in Venezuela this could be just down to election law. Iirc many State institutions are not allowed to make any large payments for about 3 months prior to an election as a safeguard against corruption (Brazil has a similar rule). It has been reported that K-Mag was seen at the Renault factory in recent days. In a statement from Renault they say their driver line-up is still Palmer and Maldonado, so the reports that the money has not reached them yet may be just a ploy to get PDVSA to pay up quicker.
Trouble in Azerbaijan
Not sure it will effect F1, but there are on-going street protests in Azerbaijan, The problem is the low oil price and the effect it has had on the local currency, the Manat. It has fallen by around a 1/3 recently and now the Central Bankto has stopped supporting the Manat after spending half of the country’s foreign currency reserves in an attempt to prop it up. This has meant a rise in the price of many goods by as much as 30%. My advise to anyone going to the race there this year is take US$ as you'll be sure to get a great rate on the open market.
He is the eminently qualified Jost Capito, the boss of Volkswagen Motorsport. He will replace Jonathan Neale (who himself was a temporary replacement for Martin Whitmarsh). I think this is all about leaving Eric Boullier free to concentrate on the F1 team and not mixed up all the time with trying to be a bridge between Honda and MaLaren. Capito has lots of experience with racing teams and also understands how manufactures operate, so is the ideal candidate to ease any tensions that arise between Honda and McLaren during this development process.
PDVSA late again with Maldonado payment
As I think was mentioned in the 2015 thread PDVSA are again late with their payment this year also, the Venezuelan state oil company (PDVSA) are late in making the $50 million payment for Maldonado's drive for the Renault F1 team, so maybe K-Mag could get a drive after all. The payment is about 7 weeks late but with the recent election in Venezuela this could be just down to election law. Iirc many State institutions are not allowed to make any large payments for about 3 months prior to an election as a safeguard against corruption (Brazil has a similar rule). It has been reported that K-Mag was seen at the Renault factory in recent days. In a statement from Renault they say their driver line-up is still Palmer and Maldonado, so the reports that the money has not reached them yet may be just a ploy to get PDVSA to pay up quicker.
Trouble in Azerbaijan
Not sure it will effect F1, but there are on-going street protests in Azerbaijan, The problem is the low oil price and the effect it has had on the local currency, the Manat. It has fallen by around a 1/3 recently and now the Central Bankto has stopped supporting the Manat after spending half of the country’s foreign currency reserves in an attempt to prop it up. This has meant a rise in the price of many goods by as much as 30%. My advise to anyone going to the race there this year is take US$ as you'll be sure to get a great rate on the open market.