Former Formula One team Honda will race this season under the name Brawn GP, said a statement from the new constructor.
New owner Ross Brawn - former team manager of Honda and Ferrari technical director – bought all the team’s shares, rescuing it from collapse and allowing it to compete in the upcoming world championship.
The name change which is still subject to the agreement of the governing International Automobile Federation (FIA).
“Honda Motor Company Limited and Ross Brawn are pleased to confirm that they have reached agreement to secure the future of the former Honda Racing F1 Team,” said the statement.
Brawn added: "The past few months have been extremely challenging for the team but today's announcement is the very pleasing conclusion to the strenuous efforts that have been made to secure its future."
“I would like to thank Honda for the fantastic co-operation and support we have received throughout this process, particularly those members of the senior management who were closely involved with concluding our agreement, and for the faith they have demonstrated in myself and our team.”
Last year’s Honda drivers Jenson Button and Rubens Barrichello will continue to drive for the British-based team.
