The BBC claims that Richard Branson's Virgin brand, currently sponsors of BrawnGP, have agreed to take the naming rights to the new Manor F1 team next year.

'The team will be named after Virgin, which apparently was one of the sticking points in negotiations with Brawn,' claims the British broadcaster's website, though Manor itself is a name synonymous with Branson; he formerly owned The Manor Studio, the UK's first residential recording studio, before selling Virgin Records to EMI.

Branson said at the British Grand Prix that his company was keen to continue sponsorship in Formula One, but he expected Brawn's demands to be too high. "I suspect next year the price will be astronomical and we may have to look somewhere else with a smaller team," he said.