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Villeneuve dismisses Gaddafi financing talk

Regarding the funding of Villeneuve Racing, former F1 World Champion Jacques Villeneuve insists 'all the money comes from corporate sponsorship, not personal investors' - rubbishing rumours linking his 2011 entry bid with the son of Libyan leader Muammar al-Gaddafi
Former F1 World Champion Jacques Villeneuve has issued a statement to 'clarify' some of the speculation swirling around his 2011 entry bid – acknowledging the tie-up with ex-GP2 Series outfit Durango, but seeking to distance the team from all rumours linking it to the son of controversial Libyan leader Colonel Gaddafi.

There was a certain degree of incredulity expressed when talk began to circulate over the weekend that Villeneuve Racing is to be partly financed by Al-Saadi al-Gaddafi, a 37-year-old former professional footballer-turned entrepreneur with close ties to state-owned Libyan oil company Tamoil [see separate story – click here].

However, as he prepares himself to qualify for this weekend's NASCAR Sprint Cup outing in the Brickyard 400 at Indianapolis, the eleven-time grand prix-winner has spoken out to stress: “There are a number of rumours circulating at the moment, and I wanted to clarify a few things before this gets out-of-hand.

“The team will be a joint venture with Durango, and based out of Italy. To be clear, right now all the money comes from corporate sponsorship, and not from personal investors.”

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Jacque Villeneuve (CAN), Bahrain F1 Grand Prix, Sakhir, Bahrain, 4-6th, April, 2008
27.07.2006 Hockenheim, Germany, Jacques Villeneuve (CDN), BMW Sauber F1 Team - Formula 1 World Championship, Rd 12, German Grand Prix, Thursday
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A.S. - Unregistered

July 21, 2010 11:58 AM

Give the guy a break for a while :rolleyes: He was doing extremely well in his last Nationwide NASCAR outing at Road America and could have possibly won a race had he not had electrical failure on the last lap. He was fighting incredibly and did show to others how to RACE and overtake CLEANLY. And that's after 2 years outside of a stock car. Good luck Jacques with your F1 project! :)

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