Magnussen confirmed as Maldonado replacement at Renault

Magnussen will drive alongside Formula One rookie Jolyon Palmer after a dispute between Renault and PDVSA - Venezuela's state-owned oil and gas company and a long-time sponsor of the Lotus F1 team acquired by Renault - over payments saw the end of Maldonado's agreement with the team.

Kevin Magnussen served as McLaren's reserve driver behind Jenson Button and Fernando Alonso in 2015.

Renault have confirmed Kevin Magnussen as the second member of their driver line-up for 2016, the Dane coming in for Pastor Maldonado.

Magnussen will drive alongside Formula One rookie Jolyon Palmer after a dispute between Renault and PDVSA - Venezuela's state-owned oil and gas company and a long-time sponsor of the Lotus F1 team acquired by Renault - over payments saw the end of Maldonado's agreement with the team.

Maldonado's contract is said to have been linked to the funding PDVSA provided and Renault reportedly terminated his deal after the 2016 sponsorship payment did not arrive.

And it is Magnussen who will take his place, earning a race seat having served as McLaren's reserve driver behind Jenson Button and Fernando Alonso in 2015.

Magnussen raced alongside Button in 2014 before being demoted upon Alonso's return.

The 22-year-old filled in for Alonso at the curtain-raising Australian Grand Prix after the Spaniard was hospitalised by a crash in pre-season testing, but was unable to start the race as his car failed en route to the grid.

And, after being presented at the launch of Renault's RS16 car on Wednesday, Magnussen will have another chance to impress.