London, Sep 10 (AP) Four-time Formula One world champion Sebastian Vettel will drive for Racing Point from next season.

The team, which will be rebranded, announced the move Thursday, a day after driver Sergio Perez announced he was on his way out.

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“The signing of Sebastian is a clear statement of the team's ambition to establish itself as one of the most competitive names in the sport," the team said in a statement.

“As a four-time world champion, Sebastian brings a fresh mindset to the team. He is one of the most accomplished and respected drivers in world motorsport and knows what it takes to win at the highest level."

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Vettel is leaving Ferrari at the end of this season. He will be replaced by McLaren's Carlos Sainz at Ferrari next year.

Racing Point's other driver is Lance Stroll, the son of co-owner Lawrence Stroll. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)