Mar.3 (GMM) The new F1 outfit Campos Meta 1 on Wednesday confirmed its change of name to Hispania Racing F1 Team.

The Colin Kolles-led squad, now led by Jose Ramon Carabante who owns a company called Grupo Hispania, also confirmed its intention to set up its headquarters in Murcia, a city in southeastern Spain.

The team, to be known by the abbreviation HRT-F1, also confirmed reports that a launch will take place in Murcia on Thursday.

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