Sir Richard Branson has signed a deal to re-name the new Formula One team Manor Grand Prix after his Virgin brand in 2010, Britain's BBC reports.

The flamboyant billionaire said at Silverstone last weekend that he is unlikely to continue sponsoring Brawn GP next year, because the Brackley-based championship leaders' value has skyrocketed.

Before the former Honda team's immense success, Brandon had grand plans for Brawn, including full naming sponsorship and possibly the transfer of equity.

Those plans, however, have reportedly been simply switched to the fledgling and more affordable 2010 entry Manor Grand Prix, the collaboration of boss John Booth's F3 outfit and former Simtek chief Nick Wirth.

Along with the Virgin speculation, the BBC reports that another well-known global brand will be involved with a new Formula One team in 2010.

Like Branson, YouTube co-founder American Chad Hurley was also at Silverstone, reportedly putting the finishing touches on a deal with the new US F1 team.

As the Team US F1 plans speed along, team co-founder Peter Windsor was stepped down from his role interviewing the drivers in the official post-qualifying and race press conferences, replaced by former ITV commentator James Allen.

© CAPSIS International
Source: GMM

 

Richard Branson had better load up on the victory champagne this year....he won't be drinking any next year.

 

^ He certainly won't be getting nearly as much camera time, which is his best advertising.

 

I suppose if there was ever a time to sell Brawn, it'd be after this season when their value is the highest. I doubt they'll see this kind of success next year, but I could be wrong.

Then again, sponsoring a pumped up F3 team might not be the best choice...