After months debating the possibility, GP2 Series is finally going to change its name from this season. Formula 1’s previous series is now going to be known as FIA Formula 2 Championship.

World Motor Sport Council has held a meeting in Geneva in order to discuss several changes in all FIA series. The most important decision has been the rebranding of GP2 Series, which now is called FIA Formula 2. With that change, the intention of Formula 1 new owners, Liberty Media, is now real, and the previous step to Formula 1 is named Formula 2.

This change makes GP2 “disappear” after twelve years of comeptition. This will mark the beginning of a new era for this competitive series that has brought many drivers to F1 (such as Lewis Hamilton or Nico Rosberg), despite the low amount of promotions in the last years.

New Formula 2 Championship will consist on ten rounds that will be held at the same time that F1. The championship will start on May 14th in Barcelona with following races in Monaco, Azerbaijan, Austria, United Kingdom, Hungary, Belgium, Italy and Abu Dhabi. The novelty in the schedule will be Jerez as the penultimate round of the season, and will be held on October 8th separately from F1.

Formula 1 CEO, Chase Carey, looked very excited with the change:

“I’m very happy to announce the evolution of GP2 Series to Formula 2. Formative series and, specially Formula 2, are strategical activities for Formula 1 Group. We are delighted to strengthen the agreement with FIA.”

Also, FIA president, Jean Todt, also liked the transformation:

“Completing this process and bringing Formula 2 to life is a very important step. This series will offer a fantastic chance to young drivers that look forward to drive on F1. We’ve developing a very successful program during the last years with Formula 4 championships in twelve countries. Formula 3 has become very competitive and today’s announcement strengthens this program. We are very pleased to be able to work with Formula One Work, to introduce Formula 2 and benefit our sport.”