Red Bull to use the Ferrari name - 9th June 19:54pm GMT

Red Bull Racing will undergo a slight name change in 2006, adopting the Ferrari monicker when it comes to engine branding.

Owner Dietrich Mateschitz says adopting the Ferrari name gives the first year team two distinct advantages.

"We decided (on Ferrari) with the background of risk minimisation, performance of the engine and marketing value," he tells the Swiss publication Motorsport Aktuell. "We also will have their name in the team name next year - Red Bull Ferrari."

Ferrari are currently concluding an engine supply deal with Sauber, who have branded their engines Petronas after the Malaysian oil company which supplies the money for the engine supply agreement.

Mateschitz adds no decision has been made on whether or not Red Bull will switch from Michelin to Bridgestone tires, although it appears more than likely a move to the Japanese manufacturer is in the works.

"There are certain aspects which speak in favour of Bridgestone," said Mateschitz. "There are pros and cons. Right now, the Japanese do not have many possibilities to test with a car on the limit. It is the Ferrari tire so we might have some synergies.

"Both tire companies would like to work with us, we will soon get their offers. If you look at Bridgestone, at the possibilities to invest, their ambitions, their resources ... I firmly believe that they will be very competitive in 2006."

"The financial aspect of course plays a certain role, but it is not priority one."