First of all it has been decided by the FIM, following a proposal by Dorna Sports, the company that manages the commercial and TV rights to the FIM Road Racing World Championship Grand Prix, that the premier class of motorcycle grand prix racing, previously known as the 500cc class, will from 2002 be called MotoGP. This responds to the change of regulations approved by the FIM, after a proposal from the manufacturers association MSMA, so that from 2002 this class will be open to 4 stroke prototype machines with a maximum capacity of 990 cc.

The other grand prix classes will continue to be referred to by their capacity limit, 125cc and 250cc.

The process for selecting the teams that will take part in the Championship will remain the same as in the past for the 125cc and 250cc teams, which will be chosen by the Selection Committee. However, in the MotoGP class a new system has been instigated whereby teams are offered longer term contracts of participation to not only give security for the future of the teams but also to guarantee the quality of the premier show.

The list of 13 teams that will participate in 2002 are:

Honda teams:
- HRC
- Team Pons
- Hardwick Racing
- Team Gresini
- Kanemoto Racing

Yamaha teams:
- Yamaha Racing Team
- Team D’Antin
- Tech 3
- WCM

Suzuki team: - Team Suzuki

Aprilia team: - Aprilia Racing

Proton team: - Team Roberts

MZ team: - Team MZ

All of the above teams have been granted the right to enter two riders in the Championship. The only exception is in the case of one of the Honda entitlements for two riders, Honda have chosen to split this between two teams, each of one rider for Gresini and Kanemoto.