(GMM) The troubled Campos team on Friday took a solid step towards next month's Bahrain season opener.
Although the original rumor also tipped the involvement of Volkswagen, it was officially announced that former Force India boss Colin Kolles has been appointed team principal and managing director.
He takes over from founder Adrian Campos, who has been bought out by existing shareholder and president Jose Ramon Carabante.
"I would like to thank Bernie Ecclestone, who worked tremendously to support our efforts to keep the team viable," said Carabante, who now owns a controlling stake.
"The whole rescue operation has been a race against time with the goal of always having the team run two competitive cars at the first grand prix of the F1 season," added the 57-year-old Spaniard.
The team will maintain its base in Spain and honor the contract with Bruno Senna. A second driver is yet to be named.
It had been rumored that Campos might stay as an advisor, but newer reports say the former Minardi driver will leave the team that currently bears his name.
If so, moves for a name change prior to Bahrain are likely.
"Over the next 10 days we will review the entire operation, find the extra funding to ensure the team will make the first race in Bahrain, announce the lineup for 2010 in due time, and make the operation viable under Jose Ramon Carabante's new ownership," said Kolles.
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