One of Formula One's worst-kept secrets is due to be officially confirmed next week.

Sir Richard Branson is to announce a sponsorship deal with one of the sport's new teams from next year in Manor GP, with the marque to be rebranded Virgin Racing.

Branson, who this year sponsored the title-winning Brawn GP team, will reveal his plans at the Louise Blouin Foundation in Notting Hill, London, on Tuesday at 10am.