Red Bull Confirm Speed as Test Driver

The American had been linked with a possible switch to Williams following minor contractual issues between his manager and Red Bull, but recently agreed a fresh deal to remain on board with the Milton Keynes-based team.

"Obviously, I'm extremely pleased that Red Bull Racing has decided to extend my contract," said Speed, whose new deal includes options beyond next year. "This season has been very good for me and to take this step forward with Red Bull Racing for next year and hopefully beyond is a great opportunity.

"My aim has always been to race in Formula One, it's my dream and this makes it much more of a reality. I've still got a hell of a lot to learn, but with the team around me and with David Coulthard as one of my teammates, I'm in the best place to be able to do that."

Red Bull Racing's sporting director Christian Horner added: "It was a natural decision to extend Scott's contract for 2006. We've been impressed with what he's achieved in GP2 this year, and the pace he has shown in tests and when driving the team's third car in Canada and Indianapolis is a strong indication of his potential.

"Scott's role will be very important as the team develops next year. He's one of the strongest drivers to come out of the USA for a long time and we're pleased to be able to give him the opportunity to demonstrate his potential within Formula One.

"His progression from karting championships to Formula One demonstrates the benefit of the Red Bull American Formula One drivers' search.  Offering support and advice, the programme is geared towards helping talented USA drivers like Scott, into Formula One and opening up opportunities that might otherwise not have been available."