Red Bull's second F1 team Toro Rosso could be set to announce a deal with engine supplier Renault from next season as the sport switches from its current V8's to V6 turbo power.

There has been much speculation about Toro Rosso's future with Red Bull owner Dietrich Mateschitz looking for outside investment into the team, recent reports has linked a Middle East company with the team and now it seems Toro Rosso will end its long standing engine deal with Ferrari.

In March Renault Sport's Jean-Michel Jalinier revealed talks between Renault and Toro Rosso were taking place.

Now German publication Sport Bild is announcing the deal has been struck:

"It will be announced later this week on the edge of the Monaco grand prix," wrote reporters Bianca Garloff and Ralf Bach. 

France's RMC Sport has also confirmed Renault SA's Chief Operating Officer Carlos Tavares will be in Monte Carlo this weekend.

If confirmed this will be the second new engine deal announced after McLaren revealed its move to Honda power for 2015 ending its partnership with Mercedes after 17 years. 

Today McLaren team boss Martin Whitmarsh has revealed for the first time he expects the deal with Honda to be exclusive, meaning McLaren will be only team using Honda engines.

"The agreement governing engine supply was actually there to prevent one manufacturer working with too many of the best teams," said Whitmarsh in an interview for this week's episode of The Racer's Edge.

"There is nothing in the regulations to say that an engine manufacturer must supply more than one team, so obviously we are looking forward to an exclusive relationship with Honda."

With the 2014 regulations yet to be finalised however, Williams founder Sir Frank Williams is said to be consulting with lawyers in prospect of hoping to secure a deal with Honda as well.

Other deals are reportedly in the works with back-of-the-grid Marussia said to be negotiating a move to Ferrari power next season as current suppliers Cosworth look set to be leaving the sport after this season.

Toro Rosso's switch to Renault could buck a trend among Renault's current customers, Caterham, Williams are Lotus, the former Renault works team, are said to be unhappy about the price tag Renault are putting on the new V6 turbo units, and could cost as much as €20-23m.


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