Aston Martin to become Red Bull Formula 1 team's 2018 title sponsor

Red Bull's cars have carried Aston branding since the start of 2016, and Aston has co-operated with Red Bull Advanced Technologies on the development of its Valkyrie hypercar.

A potential new title sponsorship, which would be similar to Red Bull's previous Infiniti deal, would further cement the relationship between the two parties.

The prestigious Aston Martin name getting a higher profile in grand prix racing would also be of interest to F1's new management.

Although those involved declined to formally confirm the title sponsor arrangement, sources have indicated that the deal to name the team Aston Martin Red Bull Racing will be announced in the coming weeks.

"You can speculate all you like but I'm not going to confirm anything," team principal Christian Horner told Autosport.

"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."

Aston Martin CEO Andy Palmer, who brokered Red Bull's Infiniti deal when in his previous job, admitted that the two companies intend to expand their relationship.

"It's fair to say that one of the reasons I'm here today is to discuss what next season looks like," he told Autosport at this weekend's Singapore Grand Prix.

"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, but having a presence in F1 is interesting."

Palmer has previously admitted that Aston is taking a close interest in F1's 2021 engine rules.

Like road car rival Porsche, Aston would only consider a direct involvement with its own engine if technology and costs are reined in by the FIA.

"I don't know what will happen with the engine. That will depend on how serious the FIA is about bringing the spectacle back to the sport," Palmer added.

"As a company we kind of sit in the same world as F1, often with the same engineers.

"So the technical capability exists, it's just a matter of money.

"Up to a point it's OK, but if we are going to continue to have heat recovery systems, no cap on the spend, and as many dynamometer hours as you like, then we'll check out.

"But if there is a way of making it work, I think the sport would be a lot richer."