F1 team Campos change name

(GETTY IMAGES)

New Formula One team Campos Meta renamed itself Hispania Racing Team today.

The Spanish team, which will be also known by the initials HRT-F1, changed names following businessman Jose Ramon Carabante's acquisition of Adrian Campos' team last week.

The team will unveil its drivers on Thursday with Bruno Senna, nephew of three-time champion Ayrton Senna, already confirmed. Indian driver Karun Chandhok is expected to partner the Brazilian, while Argentina's Jose Maria Lopez was expected to sign as a reserve driver since USF1 will not reach the grid at Bahrain on March 14.

Argentine media reported Lopez had been released from his contract with the American team, which has asked governing body FIA to move its entry to 2011 so it can skip this year.

Team principal Colin Kolles said the HRT-F1 name suggested "a new birth for our Formula One ambitions."