UPDATE 16 NOV 2011: Venezuela: Congressman Carlos Ramos questions Williams F1
Finally, some positive news from Venezuela. Local news outlet Noticias24 reports that the Congress’ audit commission is requesting a copy of the sponsorship contract between the Frank Williams F1 team and PDVSA. This is encouraging to hear, especially after my previous discussions with Claire Williams, the Head of Communications & Investor Relations for the Williams team, regarding the contract, reportedly valued at between £110 million and £154 million, signed with PDVSA.
After receiving a flat refusal from Ms. Williams to discuss the matter, I reached out to Ramon Jose Medina, the international relations coordinator for Venezuela’s opposition unity group MUD. He informed me that he would forward my request for an investigation to the appropriate members of Congress. It’s important to note that according to Venezuelan law, the use of public funds must be sanctioned by Congress. As far as we can determine, the contract between PDVSA and Williams F1 was never approved, making it illegal.