British sportscar marque Aston Martin is set to agree a title sponsorship deal with Formula One motor-racing team Red Bull Racing, according to the Autosport website.
Citing sources familiar with the deal, Autosport said an announcement would be made in the coming weeks, with the team set to become known as Aston Martin Red Bull Racing from the 2018 season.
Aston Martin is an existing partner of Red Bull and its branding already appears on the team’s cars.
Red Bull team principal Christian Horner refused to confirm details of the deal to Autosport but admitted an announcement is set to be made in due course. “You can speculate all you like but I’m not going to confirm anything,” he said.
“We’ve got a great relationship with Aston, obviously working on and developing the Valkyrie hypercar for them. They’re doing a great job, the product is great, and they’ve got a lot of great stuff in the pipeline. There will be news to follow in weeks to come.”
Red Bull has been without a title sponsor for the past two seasons after ending its partnership with Infiniti, the premium car brand of Japanese automotive manufacturer Nissan, at the end of the 2015 campaign.
Aston Martin chief executive Andy Palmer also spoke of his wish to enhance the company’s partnership with Red Bull.
Speaking at the Singapore Grand Prix at the weekend, Palmer told Autosport: “It’s fair to say that one of the reasons I’m here today is to discuss what next season looks like.
“And within that context, do we or don't we provide an independent engine in 2021? And then join the dots.
"We like the sport and we are a company that aspires to be as valuable as Ferrari. That doesn't mean that we have to copy Ferrari in every way, shape and form.
"We're stronger in WEC (World Endurance Championship), but having a presence in F1 is interesting."