GP2 Series renamed FIA Formula 2 Championship

The GP2 Series has been renamed the FIA Formula 2 Championship following an agreement between Formula One Group and the FIA at a meeting of the World Motor Sport Council in Geneva.

"I am very pleased to announce the evolution of the GP2 Series to become the FIA Formula 2 Championship," Formula One Group CEO Chase Carey said. "Junior categories and especially the upcoming F2 Championship are strategic activities for the Formula One Group. We are delighted to strengthen them through this agreement with the FIA."

FIA President Jean Todt lauded the series for providing opportunities for junior drivers to advance through the single-seater racing ladder, which it has done since its inception in 2005.

"In recent years we have developed a hugely successful program of FIA Formula 4 championships in 12 countries around the world and the FIA F3 European Championship has become very strong and competitive. Today's announcement further strengthens this program.

"We are delighted to have been able to work with the Formula One Group, to introduce F2 and benefit our sport."

Said FIA Formula 2 Championship CEO Bruno Michel: "The FIA has fully embraced GP2's core values which will now be adopted by Formula 2; a powerful, safe and challenging car, enthralling races, and a training ground to enter Formula 1 with a particular focus on cost control.

"This is a great opportunity for our drivers, our teams and our partners."