TAG stays with Red Bull despite losing engine name deal

Political issues with Renault meant that Red Bull agreed not to use the French manufacturer's name from 2016, and was thus able to sell the rights to TAG Heuer.

Although the Swiss firm can no longer brand the engine, it has extended its deal to be Red Bull Racing's official timekeeper and watch partner until 2021.

According to the team, "the relationship will evolve in the years to come" and, as a first step, a Max Verstappen special edition watch will be issued in 2019.

"Over the past three seasons the TAG Heuer name has become deeply linked with the team's efforts," said team boss Christian Horner.

"Through its branding of our power units, and also via the company's exceptional global visibility.

"The TAG Heuer name has outstanding heritage in F1, stretching back to the golden age of Grand Prix racing, and we are proud to play a part in that continuing story."

Company boss Stephane Bianchi added: "It was evident to me that the incredible link between TAG Heuer and F1 had to continue through this partnership."

TAG Heuer is one of the longest-lasting sponsors in the sport, having been a partner of Ferrari in the 1970s, and latterly of McLaren.

It is also involved with Formula E, the WTCC and the Indy 500.