Nov 3, 2011 (AFP).- Formula 1 key stakeholders have approved the name change requests that were put forward at today's F1 Commission meeting in Geneva - bringing an end to the long-running row over the Lotus moniker.
Following a lengthy meeting in Geneva on Thursday, sources confirmed that Team Lotus,Renault and Virgin Racing all received the necessary support to be allowed to change their titles for the start of next season.
According to reports, Team Lotus' cars will be known as Caterhams next season, Renault's cars will be called Lotuses and the Virgins will be renamed Marussias, after fellow F1 teams and other members of the F1 Commission agreed to the name changes at a meeting in Geneva.
While the origins of the Virgin name change are relatively straightforward (the team wanting to promote key investors Marussia over Richard Branson's Virgin brand), the issue over the Lotus name has been in the headlines since the end of last season.
After a bitter court battle, Team Lotus eventually maintained the right to use its historic name in Formula One, while car manufacturer Group Lotus, which was trying to prevent Team Lotus using the name, was also allowed to continue its sponsorship of Renault.
However, Team Lotus boss Tony Fernandes has now decided to re-brand his outfit by dropping the name in favour of his recently-acquired Caterham, thus ending the confusion of having two teams using the Lotus name on the F1 grid.
The name changes are expected to be ratified and confirmed at a meeting of the FIA's World Motor Sport Council on December 7.