The name changes confirm Mr Xenophon will no longer have a role in decision making by the parties he founded.

In the short term at least, the federal party is not about to change its stance towards key policies. For example, it will not drop its opposition to the company tax cuts and give the Turnbull government the precious last vote it needs to secure the remainder of the package which would lower the corporate tax rate from 30 per cent to 35 per cent for all companies by 2026-27.

In a message to party members and supporters, Mr Xenophon said with his career over, the name changes would enable the party "to thrive and grow" and to expand its representation beyond SA.

"That's why the Nick Xenophon Team party will soon become Centre Alliance - a name that reflects our common-sense centrist approach to tackling issues," he said.

Mr Xenophon blamed big money for his disappointing result in SA. Alex Ellinghausen

"Rebekha Sharkie, Stirling Griff and Rex Patrick will continue to be great advocates for South Australia in the federal parliament. It is also hoped that the name change will attract like-minded candidates from other states for the next federal election."

Mr Xenophon blamed big money for his disappointing result in SA.

"I'm obviously disappointed that the recent SA election did not result in any lower house SA-BEST candidates being elected," he said.

"The unprecedented multi-million dollar campaign against us by both major parties, unions and the poker machine lobby was, in the end, too much for our tiny start-up party.

"It is disappointing that the negative campaign against us adversely affected our potential to win more seats, but we now have two state elected members and three federal elected members - we are now in an even better position to effect positive change for our community."