Famed Formula One designer, Adrian Newey, has signed a new contract with defending and quadruple champions, Red Bull, which would see him work on other projects alongside Formula One.

The new three-year contract would see the acclaimed British designer taking a step back from his day-to-day involvement at the team at the end of this season.

From 2015, Newey would be a mentor for the Austrian team, in addition to taking on new projects that will be detailed later in the summer.

"Red Bull is pleased to confirm that it has extended its successful relationship with Adrian Newey with a new multi-year agreement. As part of this new agreement, Adrian will work on new Red Bull Technology projects, as well as advising and mentoring Infiniti Red Bull Racing as it develops its Formula One cars over the next few seasons," read the official statement.

Newey left McLaren and joined Red Bull in 2006, and is seen as a key reason to the team's success over the past four years. Currently, Newey heads up a design team at its factory in Milton Keynes and Team Principle, Christian Horner, announced further clarification would be made in the later part of summer.

"I just feel, to be perfectly honest, the current regulations are very restrictive, which is a shame. It's difficult to find new areas to explore because they are so tight. At the same time, I'd like to see if I can apply my ability - whatever that might be - to other areas," Newey told a popular British motorsports magazine.

More importantly Red Bull is confident Adrian Newey's decision to take a step back will not prompt star driver Sebastian Vettel to depart the team. Vettel told the media, early in the week, his current focus is short-term and is more keen on trying to catch up to the Mercedes team, who have been dominant early in the season.