The time to finally get things straight with the Lotus name running loose on race tracks. As you know, the 2011 season has seen Malaysian-owned Team Lotus fight Lotus Renault GP for the tack use of this name.
The first has gotten its hands on the designation by receiving it from Proton, which owns Lotus (the carmaker) and used a British Racing Green livery, while the latter, which is owned by Genii Capital, used a gold and black color scheme that reminded everybody of the John Players Special Lotus F1 racers of the 1980s.
Team Lotus managed to win the war and thus Genii Capital was forced to continue under the Lotus-Renault name, but still meant that we had two Lotus teams.
However, ESPN now writes that Team Lotus will change its name to Caterham, in order to promote the automotive producer that has it has recently acquired, so there will be no confusion.
The report also states the the 2012 season will see Virgin change its name to include that of Russian investor Marussia.