December 16, 2009 01:25 pm | Updated 01:25 pm IST - LONDON
Timo Glock (L) and Lucas Di Grassi (R) pose with Richard Branson following the launch of the new Virgin Racing Formula 1 team, in London.
Lucas Di Grassi and Timo Glock have been confirmed as drivers for Virgin Racing in next year’s Formula One championship.
The announcement was made at the official launch of Virgin as title sponsor of the new Manor team.
Virgin chairman Richard Branson says it will be the lowest budget team in F1, operating under 40 million pounds ($64 million).
Virgin Racing is joining four other new teams for the 2010 season - Lotus, USF1, Campos and Sauber - on the newly-expanded 13-team grid.
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