The Virgin brand’s 2010 Formula One project will be officially unveiled next week.

Virgin Racing, one of four new teams set to join the grid next season, will be launched at an event in London on Tuesday.

Virgin boss Sir Richard Branson, who last season sponsored title winners Brawn, and the Virgin Racing management team are all expected to be in attendance.

Acknowledged in the event’s invitation as the ‘best worst kept secret’ in motor racing, Virgin have long been rumoured to have signed an agreement with Bicester's Manor GP - one of the incoming teams to be awarded championship entry by the FIA back in June. The new team name of Virgin Racing was revealed in the official 2010 entry list published by the FIA last month.

The team, who will use Cosworth engines, have already confirmed former Toyota star Timo Glock as a driver and there is speculation that the German's team-mate could be revealed at the launch.