The company’s logos will have “significant branding” on the cars and team clothing, including that of drivers Timo Glock and Lucas Di Grassi, starting with this weekend’s Spanish Grand Prix.

Graeme Lowden, Virgin Racing’s chief executive officer, described the team as “absolutely delighted” to confirm the deal, adding: “We are proud to add an industry-leading brand to our healthy partnership portfolio and I am particularly pleased that we have worked hard together with a partner who has seen the team develop from its birth through to our first competitive steps.”

Full Tilt Poker team member Chris Ferguson added: “With two leaders in their respective fields coming together, this is sure to be a groundbreaking partnership on the global canvas, providing yet another level of excitement of all fans.”

Virgin Racing has been beset by reliability problems in the opening four races of this season and has yet to score a point. SportsPro Media