Triple Eight Race Engineering has confirmed that it has reached an agreement with Red Bull Australia to support its V8 Supercars team next year.

The champion V8 team and the leading energy drink company announced today that they have agreed on the key commercial terms for the naming rights sponsorship in a multi-year deal.

Red Bull will replace Vodafone, who announced recently that it will end its six-year association with the team.

Triple Eight team owner Roland Dane says that he is pleased to have a deal close to finalised.

“We are thrilled by the prospect of Red Bull becoming our naming rights partner from 2013 and are confident that the deal will be finalised in the coming weeks,” Dane said.

Jason Sargent, Managing Director of Red Bull Australia, added that it was a huge coup for the company.

“Given Red Bull’s successful history in motorsports, we are very excited to form a partnership with Australia’s leading motorsport team,” Sargent said.

Triple Eight and Red Bull will not make any further comment on the matter.

The deal will end the team’s association with Monster Energy Drink, which began with a personal helmet deal for Jamie Whincup in 2009.

In other Triple Eight Race Engineering news, the team has unveiled the sport’s first Car of the Future race car. CLICK HERE for more.