Formula One - F1 - Malaysia Grand Prix - Sepang, Malaysia- 2/10/16  Red Bull's Daniel Ricciardo of Australia celebrates with Red Bull's Max Verstappen of the Netherlands on the podium.
Formula One - F1 - Malaysia Grand Prix - Sepang, Malaysia- 2/10/16 Red Bull's Daniel Ricciardo of Australia celebrates with Red Bull's Max Verstappen of the Netherlands on the podium. Reuters/Edgar Su

Red Bull Racing, the former four-time Formula One Constructors' Champions, has confirmed Aston Martin as the team’s title sponsors in 2018. The Christian Horner-run team will be called “Aston Martin Red Bull Racing” once the 2018 Formula One season begins.

In recent months, there have been chatter of Red Bull possibly aligning with a new engine manufacturer. While it has been confirmed that the Austrian team will continue to be powered by Renault engines, there is a possibility that Aston Martin, the iconic British company, will become Red Bull’s power providers in the future. As part of the partnership, a brand new Advanced Performance Centre will be built at Red Bull’s headquarters, consisting of design and engineering staff from Aston Martin.

Aston Martin CEO Andy Palmer hasn't denied the rumours that his team could eventually develop engines for Red Bull Racing. “For 2021 there is a potentially rule change in terms of the engines. We are an engine maker and if the rules change sufficiently that it makes sense -- that the costs come down so that a company like us can afford to do an engine -- we’d like to do the engine,” Palmer told the official F1 website.

Aston Martin could develop engines for RBR in future

“We would like to be the provider of an independent engine to F1 with our principal customer -- that, of course, being our friends at Red Bull. Today we are a sponsor and innovations partner -- maybe this will grow a bit, but to what extent depends on the direction that F1 takes," Palmer added.

After Red Bull Racing posted a picture on Instagram with a logo of Aston Martin on the car (see below), team boss Christian Horner released the following statement: "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 from 2018."

Meanwhile, Australian star Daniel Ricciardo has little doubt his team would be competing with Mercedes and Ferrari for championships next season. Ricciardo, with one race victory (at Baku City Circuit) and five podium finishes, sits at No. 4 in the Drivers' Championship table this season. The 2017 Formula One season continues at Sepang International Circuit for the Malaysian Grand Prix between Sept. 29 and Oct. 1.