Codemasters’ has just released a trailer depicting F1 2020’s new My Team mode, which is what we’ve been waiting for ever since they first announced that you’ll be able to create your own team from scratch and act as a driver/manager.

For licensing purposes, it was obvious that you couldn’t take sponsors from other teams and use them on your car. However, you can still create a unique brand identity using made-up sponsors and color schemes.

You can even choose your own team logo while designing your livery, as well as signing a power unit supplier. Here, you can choose between Ferrari, Mercedes, Renault and Honda, and it seems that this is the order in which they have been performance-rated by the Codemasters team.

Watch: F1 2020 Gameplay Trailer Shows Us What We’ve Been Missing These Past Few Months

Before you can take your new car out on the track, you will have to “face the media to answer a series of questions ranging from car performance to race predictions. The response will have a direct impact on the initial strength of the car, so players must think about how they answer.”

“Once finalized, the car is revealed to the world via a cinematic trailer.”

What’s really interesting is that you can also explore the driver market when selecting a teammate. You can compare F1 and F2 drivers based on Experience, Racecraft, Awareness and Pace, and you can gauge their market value.

All the stats and skills are said to have been built from comprehensive real-world data from the past five F1 and F2 seasons. Based on their 2020 real-world performances, drivers will then receive updates during the seasons – same as in FIFA or PES.

“It’s been an enlightening experience using real-world data to create the driver stats. They will divide opinion, and we know our players will spend hours debating them,” said Codemasters’ F1 Franchise director, Paul Jeal. “We’re excited to see how the stats evolve when the drivers hit the track, and the hock-on effect this will have in the game.”

F1 2020 comes out Friday, July 10 on the PlayStation 4, Xbox One and One X, PC and Google Stadia.