Lotus F1 Team announced that Venezuelan driver Pastor Maldonado will join the Enstone squad alongside Frenchman Romain Grosjean for the 2014 Formula 1 season.

The decision comes after current driver Kimi Raikkonen announced his return to Ferrari in September. Sauber's Nico Hulkenberg was also linked to the seat, but talks deteriorated when the Enstone squad revealed difficulties in obtaining sponsorship dollars.

With it, Maldonado brings massive sponsorship dollars through Venezuelan state-owned oil company VDSA.

Maldonado is a veteran of 58 Grand Prix starts, including pole position and victory at the 2012 Spanish Grand Prix. He has driven for Williams F1 Team since entering the sport at the start of the 2011 season.

“It is a fantastic opportunity for me to join Lotus F1 Team for 2014,” Maldonado said. “It’s no secret that I have wanted a change of scene to help push on with my Formula 1 career and Lotus F1 Team offered the very best opportunity for me to be competitive next season. The regulations and cars will change significantly so it is a very good time for a fresh start. I can’t wait to be racing in black and gold.”

Team Principal Eric Boullier shared his sentiment for next season, as well as confirming the return of Romain Grosjean, who, after a difficult 2012 season, returned this year to finish seventh in the standings with six podium finishes.

“It is with great pleasure that we can formally confirm that Romain Grosjean will continue with Lotus F1 Team next season. He has really made the most of his tremendous talent over the latter part of the 2013 season and will be a fantastic asset to our 2014 challenge. Romain will be joined by Pastor Maldonado; a driver I have known since he drove for me at DAMS in the 2005 World Series by Renault season. It is clear that Pastor has pace and potential – demonstrated by his 2010 GP2 Series title success and then through strong races throughout his career at Williams F1 Team – and we are convinced that we will be able to provide the correct environment to enable him to flourish regularly on track. We have been working on our new car in alignment with the new regulations for over two years and we are confident that we have a very good solution to all the challenges ahead. With Romain and Pastor I believe Lotus F1 Team will be able to cause quite a few surprises next year.”