Campos Meta will race under the name of Hispania Racing F1 Team following Jose Ramon Carabante's purchase of the team.
New F1 team has been renamed changed following buyout
Campos Meta will race under the name of Hispania Racing F1 Team following Jose Ramon Carabante's purchase of the team.
Carabante acquired the fledgling team from fellow Spaniard Adrian Campos after the outfit had run into serious financial difficulty.
Despite the change in ownership, Campos is expected to remain as executive vice-president.
Hispania, named after one of Carabante's companies, will continue to work out of Campos' factory Alzira for the immediate future.
Colin Kolles who is no stranger to F1, having worked with Jordan, Midland, Spyker and Force India, will fulfil the role of HRT team principal.
"The new team name signifies a new birth for our Formula 1 ambitions and highlights the incredible effort that is going on behind the scenes to ensure we make a successful debut in Bahrain on 14 March," Kolles said.
"While we are a new team in the paddock, we will be very proud to stand alongside such legendary names as Ferrari, McLaren, Williams and Lotus, as we hope to build our own reputation in the coming years."
The team will be presented in Murcia, Spain on Thursday when it is expected that Bruno Senna and Karun Chandhok will be confirmed as their drivers for the upcoming season.
