The FIA has rubber stamped changes that will see Renault, Team Lotus and Virgin Racing change their names for F1 2012.
The F1 Commission chaired by F1 boss Bernie Ecclestone met last week to discuss the matter in Geneva and an agreement was reached [see separate story - click here
], however it still required the approval of the FIA, which was confirmed on Sunday.
As such it means the row of the Lotus name has now come to an end and from next year Team Lotus will will morph into the Caterham F1 Team, which in turn will allow Renault to become Lotus to tie in with the sponsorship deal it agreed with Group Lotus earlier this year.
Marussia Virgin Racing also changes its name and will now be known solely as Marussia Racing to reflect the financial involvement of the Russian carmaker.
The full statement from the FIA read:
The FIA, on the basis of the support expressed by its F1 commission chaired by Bernie Ecclestone, which had a meeting in Geneva on November 3, has agreed the following team name changes as from 2012:
New Chassis name
Caterham F1 Team
From Lotus to Caterham
Lotus Renault GP
From Renault to Lotus
Marussia F1 Team
From Virgin to Marussia