Carabante takes control of Campos

The future of new Formula One team Campos Meta appears to have been secured following a takeover by one of the partners and president, Jose Maria Carabante.

Rumours had surfaced in recent weeks that due to financial problems Campos would be unable to make the opening race of the season in Bahrain on March 14.

But Spanish entrepreneur Carabante has now signed an agreement with founder Adrian Campos that has enabled him to become the majority stakeholder and owner.

It is understood Campos has left with immediate effect, and there is now every likelihood the team will be renamed ahead of the race in Bahrain, pending an agreement being reached with the FIA.

F1 supremo Bernie Ecclestone has been an instrumental figure in saving Campos from the scrapheap before they had even turned a wheel in anger and it was to the 79-year-old Carabante expressed his initial gratitude.

"I would like to thank Bernie Ecclestone, who worked tremendously to support our efforts to keep the team viable," said Carabante.

"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 season in Bahrain.

"We have a lot of hard work still ahead of us, but we are excited about making our F1 debut and looking forward to a competitive season."

Carabante has immediately appointed former Force India team boss Colin Kolles to the same position at Campos, with the Romanian-born German also taking on the role of managing director.

"I could not resist this tremendous challenge and am very excited to join forces in this new team," said Kolles, who last year formed his own LMP1 team to compete in the Le Mans 24 Hours.

"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 line-up for 2010 in due time, and make the operation viable under Jose Ramon Carabante's new ownership."

Bruno Senna, the nephew of the late three-times champion Ayrton, has already signed to race for Campos for this season.

However, with the team still desperate for funds, it is clear their second choice will have to pay for his seat.

Jose Maria Lopez, who signed for the other troubled newcomer US F1 just a few weeks ago, is understood to have held talks with Campos.

With US F1's own position seemingly in dire straits, and as Lopez has financial backing from his Argentinian government, there is every chance he may now switch teams.

Another possible source of significant funding could come from Karun Chandhok who, if appointed, would become the second Indian driver to race in F1.

Source: Carabante takes control of Campos - Planet-F1 News from planet-f1.com