Alfa Romeo back in F1 with Sauber after more than 30 years

An Alfa Romeo logo is displayed at the New York International Auto Show in New York, on April 17, 2014. (Seth Wenig / AP)

TURIN, Italy -- Alfa Romeo has joined up with the Sauber team for a return to Formula One after an absence of more than 30 years.

Sauber said Wednesday it has reached a "multi-year technical and commercial partnership" with the Italian automaker, which is part of Fiat Chrysler Automobiles.

From 2018, the team will be known as the Alfa Romeo Sauber F1 Team. Next year's car will bear the Alfa Romeo logo and will be equipped with Ferrari power units.

FCA CEO Sergio Marchionne said the deal marks "a significant step in the reshaping of the Alfa Romeo brand."

The Alfa name last appeared in F1 in 1985, although its biggest achievements came during the series' first two years, when Giuseppe "Nino" Farina and Juan Manuel Fangio won the 1950 and 1951 titles in Alfas.

Ferrari junior program and Formula Two champion Charles Leclerc is expected to drive for Sauber next season and there is also speculation that Antonio Giovinazzi, another Ferrari product, could become the team's second driver.