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Caterham's GP2 team has been taken over by Status Grand Prix and will change names at the start of next season.

The Caterham GP2 team was owned by Tony Fernandes, who sold off his Formula One team earlier this year, but has been sold to Status GP, which already runs a GP3 team, ahead of the final race.

"I would like to say that this announcement is very positive for us and Status Grand Prix," Fernandes said. "We have built a strong GP2 team with excellent personnel over the last four years, and we can be proud of the multiple race wins and podiums we have achieved in the series.

"Following in-depth discussions with Status Grand Prix, we have reached an agreement that will strengthen and secure the future of the GP2 team. I would like to thank [GP2 boss] Bruno Michel and the GP2 Series for four successful years and wish Status Grand Prix the best of luck for the future."

Status GP team principal Teddy Yip added: "Status Grand Prix has been part of the GP2 family for 5 years and, having been multiple race winners in GP3, we have always had the ambition to move up into the senior formula when the time is right.

"The opportunity to take over an established and highly-regarded team such as Caterham Racing makes that time now. I would like to thank Tony Fernandes and Mia Sharizman at Caterham Racing for their constructive approach to this agreement, and Bruno Michel at GP2 for his valuable support during the negotiations."

Pierre Gasly and Rio Haryanto will remain as the team's drivers for the last round in Abu Dhabi.

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