Magnussen set to replace Maldonado at Renault: reports

Thu Jan 28, 2016 3:48pm EST
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By Alan Baldwin

LONDON (Reuters) - Denmark's Kevin Magnussen is set to replace Venezuelan Pastor Maldonado at the Renault Formula One team, Sky Sports television and specialist websites reported on Thursday.

A spokesman for the British-based team, who competed as Lotus last season, would not comment on speculation when contacted by Reuters.

Renault are due to present their driver lineup and management structure at an event in Paris next Wednesday.

Maldonado's future has been uncertain since Renault announced their return to Formula One as constructors and took over the financially-troubled team last month.

Quick, and a race winner with Williams in Spain in 2012, Maldonado also has an accident-prone reputation that has made him a regular visitor to the stewards as well as the butt of jokes on social media.

Previously backed by Venezuela's state oil company PDVSA, to the tune of some 20 million pounds ($28.75 million) a year according to some media reports, there has been speculation about the driver's ongoing funding.

The BBC, citing unnamed sources, reported earlier this month that payments from PDVSA were several weeks overdue. The company has not commented., also referring to unnamed sources, reported on Thursday that Magnussen was poised to sign a deal in the next few days.   Continued...

McLaren Formula One driver Kevin Magnussen of Denmark waves during the drivers parade before the Australian F1 Grand Prix at the Albert Park circuit in Melbourne March 15, 2015.      REUTERS/Brandon Malone