Racing Point name will only be temporary

Racing Point name will only be temporary

"[We should] be able to punch even higher above our weight, to hopefully be fighting for that third place".

But he says Force India is different. But it was typically a lonely fourth place.

Fédération Internationale de l'Automobile (FIA, English: International Automobile Federation) has released the 2019 Formula 1 entry list and Force India has been renamed to Racing Point UK limited, The change in name is after the team was bought by a Canadian consortium headed by billionaire Lawrence Stroll.

Over the summer, the financial backers of Sahara Force India's Sergio Perez sent Force India into administration to protect the bankrupt Formula 1 team against the threat of a winding up offer.

Racing Point F1 team principal Otmar Szafnauer has confirmed details of the squad's name and livery for 2019, with the outfit formerly known as Force India set to undergo another change of moniker before action resumes at next year's Australian GP.

However, it turns out that the team will not be named Racing Point next season after all.

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"If this team had been running last, it wouldn't have worked", Stroll said.

"I'm not in this for ego. I'm in this for the long term, as I have been with every other business I've owned", he added. "It is because of how they have performed, on the budget they have had, that this opportunity has been realised".

"That is still to be clarified how well that works out", he continued.

Stroll has been around the series for many years, having started as an investor at Williams.

"But, put simply, this was a phenomenal business opportunity that presented itself".

"I've had enough conversations with Chase to understand that is the direction they want and need to take the business", he said.

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