McLaren has announced it will reforge ties with Mercedes from the 2021 season at the end of its existing power unit supply deal with Renault.

Renault became McLaren's power unit supplier at the end of 2018, taking over from Honda on a three-year deal, but reports emerged on Friday in Russia that Mercedes would be taking over upon the next regulation cycle in 2021.

McLaren, Mercedes and Renault all issued statements on Saturday morning confirming the news, with Mercedes taking over on a multi-year deal that will run until at least the 2024 season.

"This agreement is an important step in our long-term plan to return to success in Formula 1. Mercedes is the benchmark, both as a team and a power unit, so it is natural we would seek to secure a relationship with the company for the next phase of our journey," said McLaren Racing CEO Zak Brown.

"This announcement reflects the confidence of our shareholders and is an important message to our investors, employees, partners and fans that we are committed to returning McLaren to the front of the field."

"We are delighted to welcome McLaren back to the Mercedes-Benz racing family with this new power unit supply agreement," said Mercedes chief Toto Wolff.

"Although the two brands share a prestigious history, this new agreement is all about looking to the future and beginning a new era of power unit supply for the years ahead. McLaren have been putting in place the building blocks of their revival over recent seasons, including impressive performances this season with Renault power.

"We hope that this new long-term agreement marks another milestone for McLaren as they aim to take the fight to the sport's top teams, including our Mercedes works team."

More to follow...