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GPUpdate
Family doubts over Petrov Renault seat
8 February 2010The Petrov family retains doubts over the seat of Formula 1 newcomer Vitaly for this season as the Renault team awaits payments from the Russian driver. The GP2 runner-up was confirmed alongside Robert Kubica after receiving financial credit from a personal friend although the bank loan is still yet to be received.
With Petrov set to make history by becoming F1's first ever Russian driver this season, it is understood that Renault asked the Vyborg man whether he would be interested in a full-time race drive for 2010, attached to which was a price tag of approximately 15 million euros (£13.1m).
However, according to father Alexander in an interview with Russia's SovSport.Ru, Petrov and Manager Oksana Kosachenko - who instantly began a search for sponsors, talking with some 500 companies - did not find funding until receiving help from a friend who, as Chairman of a St. Petersburg bank's Board of Directors, offered to provide a suitable loan for €7.5m.
However, it is believed that the finance - which equates to half of the total required sum - is yet to be received as Renault F1 awaits the full amount.
"I don't know," replied Petrov Sr. when asked where the second half of the cash sum will materialise from. "We have still not received the first seven and a half million; the bank has extended the period because of the amount of the money.
"If, before the 1 March the first payment isn't made, Vitaly can be exchanged for another driver." He added that the second instalment is required by the middle of the season.
Reaction: Petrov management denies speculation
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