Aston Martin has confirmed its title sponsorship of Formula One team Red Bull Racing from the start of the 2018 season.
The four-time world constructors' champions will compete in motorsport's elite series as Aston Martin Red Bull from next year after the luxury car marque agreed a substantial expansion of a partnership which began in 2016. As well seeing Aston Martin branding appear on Red Bull cars, uniforms, and other properties and marketing assets, the new agreement will have a wide range of technical elements.
A new Advanced Performance Centre will be built at the Red Bull Racing headquarters in Milton Keynes in the UK. It will be the base of 110 Aston Martin design and engineering staff who will collaborate with the team at Red Bull Advanced Technologies on a new line of road supercars, with the Aston Martin Valkyrie set to launch for retail in 2019.
The manufacturer is also exploring the possibility of becoming an engine supplier to Red Bull, who currently use Renault engines branded by sponsor Tag Heuer.
"Title partnership is the next logical step for our innovation partnership with Red Bull Racing," said Andy Palmer, the president and chief executive of Aston Martin. "We are enjoying the global brand awareness that a revitalised Formula One provides.
"The power unit discussions [in Formula One] are of interest to us, but only if the circumstances are right. We are not about to enter an engine war with no restrictions in cost or dynamometer hours but we believe that if the FIA can create the right environment we would be interested in getting involved."
Red Bull Racing are running without a title sponsor in 2017, with Forbes reporting in recent days that owner and energy drinks giant Red Bull increased its spending on the team from UK£10.1 million to UK£40.6 million in the 2016 financial year after changes in regulations and the departure of previous lead partner Infiniti.
The financial terms of Aston Martin's deal were not released but it is likely to be worth a significant eight-figure sum each season.
With 14 races gone in the 20-race 2017 season, Red Bull are third in the Formula One constructors' championship. Drivers Daniel Ricciardo and Max Verstappen are fourth and sixth respectively in the drivers' standings.