Team principal Colin Kolles has confirmed that Campos Meta will be renamed Hispania Racing F1 for the forthcoming season.

The Romanian-born team boss and managing director has announced the move following Jose Ramon Carabante's acquisition in February.

The new team name mirrors its links to their Spanish roots with the base set in Murcia, near Alicante.

Carabante has taken over the reins from former founder and F1 driver Adrian Campos.

With Kolles now at the helm, he will guide his new team as preparations continue for the season opener at Bahrain on March 14.

"The new team name signifies a new birth for our Formula One ambitions and highlights the incredible effort that is going on behind the scenes to ensure we make a successful debut in Bahrain," he 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."

Campos originally signed Brazilian Bruno Senna, nephew of the late Formula One three-time champion Ayrton, to drive, while Indian Karun Chandhok is poised to join him on the grid.

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