Car manufacturers Aston Martin have agreed a deal to be title sponsors of Formula One team Red Bull from next season.

The team will officially compete as Aston Martin Red Bull Racing, with the car company having joined forces with Red Bull as an 'innovation partner' in 2016 to develop the Valkyrie hypercar.

Aston Martin and Red Bull have established an advanced performance centre at the latter's UK base in Milton Keynes, creating 110 jobs, as they collaborate on F1 and road car technology.

"Our innovation partnership with Aston Martin has been a pioneering project from day one," said Red Bull team principal Christian Horner.

"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 in 2018."