Red Bull Racing has confirmed the release of Aston Martin from its existing Formula 1 title sponsorship agreement at the end of the season following Racing Point team owner Lawrence Stroll's investment in the company.

It was announced on Friday that a consortium led by Canadian billionaire Stroll had completed a £182 million investment in Aston Martin for a 16.7 percent stake.

Part of the deal will see Racing Point be rebranded as Aston Martin from the 2021 season, becoming its works team on an initial 10-year deal.

Aston Martin has been involved in F1 as a Red Bull sponsor for a number of years, acting as the title sponsor since the start of the 2018 season.

In a statement issued by Red Bull following the Stroll announcement, the team confirmed its split from Aston Martin at the end of 2020, but said both parties remained committed to the delivery of the jointly-designed Valkyrie hypercar later this year.

"Following the Aston Martin Lagonda announcement earlier today, the Team can confirm that the manufacturer will remain title partner until the end of the 2020 season but this contract will not be extended past the end of the current term," the statement reads.

"Red Bull Racing has agreed to release Aston Martin from its Formula One exclusivity clause which in turn has allowed it to generate the necessary investment required to re-finance and pursue alternative opportunities within the sport.

"Red Bull Advanced Technologies will continue to work with Aston Martin in order to deliver the Valkyrie hypercar, with the first cars scheduled for delivery at the end of the year.

"We thank Aston Martin for their support over the past four years in which time we have achieved 12 wins, 50 podiums and six pole positions together. We wish Aston Martin’s employees and shareholders all the best for the future and our focus remains on working together throughout the 2020 season and ending our partnership on a high."