Team Name Changes Formally Approved by the FIA
6 November 2011
The FIA has formally agreed to Lotus, Renault & Virgin changing their team names for 2012.
This isn’t just about team names, it’s about chassis names. Teams can call themselves anything they want from year to year (within reason, of course) but they cannot rename their chassis unless the majority of the teams and the FIA approve. If a team does rename their chassis without this approval, they’re deemed to be a new entry into the championship and so lose the previous season’s prize money.
So next year’s Lotus will be a Caterham, next year’s Renault will be a Lotus and next year’s Virgin will be a Marussia.
All clear? Good.