It is goodbye Team Lotus and hello Caterham F1 Team, as the outfit unveiled its logo for the 2012 season on Wednesday.
Third year in a row that team has changed its name
It is goodbye Team Lotus and hello Caterham F1 Team, as the outfit unveiled its logo for the 2012 season on Wednesday.
The new logo is green, white and yellow and their 2012 challengers will be green and yellow.
It's the third year in a row that the team has changed its name. It entered the sport as Lotus Racing in 2010, but then switched to Team Lotus for the 2011 season. However, they then became involved in a drawn-out battle with Lotus Renault GP over the Lotus name.
Although the dispute ended up in court, it ended amicably with Team Lotus opting to adopt Caterham.
"With Team Lotus, I would have battled to the end if I felt it was the right thing to do, but when you take a dispassionate look at where we were it made absolute sense to start with a clean sheet, and Caterham has given us that chance," team boss Tony Fernandes said in the final edition of its e-magazine Team Lotus Notes.
"It's the best possible solution for where we want to go - partly because it gives us complete control over everything we do and, obviously, because there's simply no point racing to promote a road car company I don't own. The road car business has always been a sector I've wanted to explore and so here we are. But I can't stress enough; this is a serious business venture for us."
