Campos edged closer to lining up on the grid for the opening race of 2010 in Bahrain after a buyout which also saw Colin Kolles named as team boss.
Spanish businessman Jose Ramon Carabante, who set up the team in partnership with Adrian Campos, has become the majority shareholder.
Former Force India team principal Kolles will reprise that role at Campos as well as becoming managing director.
The team are understood to wish to find a role for Campos, a former F1 driver.
The team were understood to be behind on their payments to Italian race-car constructor Dallara.
However, Carabante is confident that his buyout will be enough to secure Campos Meta 1’s place on the starting grid on 14 March. BBC Sport
“I would like to thank (Formula One Management CEO) Bernie Ecclestone, who worked tremendously to support our efforts to keep the team viable,” said Carabante. “The whole rescue operation has been a race against time with the goal of always having the team run two competitive cars at the first Grand Prix of the F1 season.”
With Bahrain barely three weeks away, Campos have just one confirmed driver - Brazilian Bruno Senna - and have yet to test their new car, and Carabante admitted the team, who will continue to be based in Spain, have much to do ahead of the Sakhir race.
“We have a lot of hard work still ahead of us but we are excited about making our F1 debut and looking forward to a competitive season,” he added. Formula 1
Kolles, who left Force India in 2009, insists new investment is still needed at Campos.
“I could not resist this tremendous challenge and am very excited to join forces in this new team,” said Kolles.
“Over the next 10 days we will review the entire operation, find the extra funding to ensure the team will make the first race in Bahrain, announce the line-up for 2010 in due time, and make the operation viable under Jose Ramon Carabante’s new ownership.” Sky Sports
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