Alfa Romeo are returning to Formula One after a 30 year absence as backers of Sauber next year, the iconic Italian marque announced on Wednesday.

The Ferrari-powered team will be known as Alfa Romeo Sauber.

Ferrari chairman Sergio Marchionne, CEO of the Milan-based manufacturer's company Fiat Chrysler Automobiles, said in a statement that Alfa was "determined to begin writing an exciting new chapter in its unique, legendary sporting history".

Pascal Picci, Chairman of Swiss-based Sauber Holding AG, added: "We are very pleased to welcome Alfa Romeo to the Sauber F1 Team.

"Alfa Romeo has a long history of success in Grand Prix racing, and we are very proud that this internationally renowned company has chosen to work with us for its return to the pinnacle of motorsport."

Alfa Romeo won the inaugural F1 championship with Nino Farina in 1950, and followed up with legendary Argentinian Juan Manuel Fangio winning the 1951 title.

They then served as engine supplier for several teams from 1961 until 1979, before returning with a works team from 1979 to 1985, when they pulled out of F1.

Sauber have yet to finalise their drivers line-up for next season, with Ferrari's junior drivers Charles Leclerc and Antonio Giovinazzi believed to be in the frame to replace Marcus Ericsson and Pascal Wehrlein.