As revealed last night by Motorsport.com, the FIA and owners of the former Force India team have been working hard in recent days to create a new entry and new team for the Silverstone-based outfit.

Following intense scrutiny of the legal situation surrounding the takeover of the Force India team by a consortium led by Lawrence Stroll, the FIA has subsequently approved an all-new entry.

It means the former Force India entry has been officially annulled, with the FIA ruling that the team is excluded from the world championship with immediate effect. This action forfeits its constructors’ championship points.

Racing Point’s team principal Otmar Szafnauer said: “The new Racing Point Force India Team is delighted to be able to race when the championship resumes in Belgium this weekend.

“This heralds a new and exciting chapter for us. Just a few weeks ago, an uncertain future lay ahead, with more than 400 jobs at risk; now the new team has the backing of a consortium of investors, led by Lawrence Stroll, who believe in us as a team, in our expertise and in our potential to achieve success on the track.

“We are grateful to the FIA, the Joint Administrators and Formula One Management for their support in helping us achieve such a welcome outcome and ultimately, we trust, for the sport and its many fans.”

FIA president Jean Todt added: “I am very pleased that a strong, positive outcome has been reached and welcome the mid-season entry of Racing Point Force India.

“Creating an environment of financial stability in Formula One is one of the key challenges faced by the sport, however thanks to the hard work of the FIA, the Joint Administrators, Racing Point and Formula One Management we have a situation now that safeguards the future for all of the highly-talented employees, and will maintain the fair and regulated championship competition for the second half of the season.”

New F1 constructors' standings