The FIA has today formally confirmed that the three chassis name changes discussed in Geneva on Thursday have been approved.
In addition it has confirmed that Team Lotus will now be known as Caterham F1 Team, and Marussia Virgin Racing will be Marussia F1 Team – indicating that Virgin has been dropped not just from the chassis name, but from that of the team. Sources say Virgin will remain as a sponsor.
All teams still have time to adjust those names in the 2012 entry list to reflect sponsors etc.
A short statement said: “The FIA, on the basis of the support expressed by its F1 commission chaired by Bernie Ecclestone, which had a meeting in Geneva on November 3, has agreed the following team name changes as from 2012:”
| Team Name | New Chassis Name |
| Caterham F1 Team | From Lotus to Caterham |
| Lotus Renault GP | From Renault to Lotus |
| Marussia F1 Team | From Virgin to Marussia |
Adam Cooper's F1 Blog 
I know they said Virgin will remain on the car next year, but it sounds like Sir Richard is slowly making his exit from a backmarker. Possibly move sponsorship money up the grid to another British licensed team?