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Red Bull have confirmed that British carmaker Aston Martin will be the team's title sponsor in 2018 season of Formula One. The team will run as 'Aston Martin Red Bull Racing' from next season.
"We've been working with the world-famous sports car maker for 18 months, and this is the logical next step in strengthening our relationship," a statement read.
The deal will include the building of an Advanced Performance Centre at Red Bull's Milton Keynes headquarters which the two companies believe will help in adopting F1 and road car technology.
Although the team will be known as Aston Martin Red Bull Racing next year, it will still employ Renault engines, which are currently branded as TAG Heuer units. However, Aston CEO Andy Palmer has confirmed an interest in entering F1 as an engine manufacturer in 2021, when new technical rules will be introduced.
Red Bull boss Christian Horner said: "Our Innovation Partnership with Aston Martin has been a pioneering project from day one. Having conceived and created the remarkably successful Aston Martin Valkyrie together in 2016, we extended our relationship this year and are now delighted to further strengthen the partnership and see the team competing as Aston Martin Red Bull Racing in 2018."
He added, "Also, more than 100 Aston Martin staff will service the new Advanced Performance Centre on our campus here in Milton Keynes, and it will allow us to collaborate further with Aston Martin on special, equally innovative, new projects."
Aston Martin becoming the title sponsor of Red Bull Racing will strengthen the company's technological advances in production or mass-market cars as well. Red Bull will benefit from Aston Martin regarding sponsorship, which is crucial in the world of Formula One.