Throughout his time in F1, Newey has designed several championship-winning cars including Red Bull’s RB19, the most dominant in the sport's history.
Despite his ongoing success with the team, Newey's exit suggests he fancies a new challenge, and the iconic designer would be a fine catch for any team able to secure his services.
Which F1 team will sign Newey?
Various teams have expressed their interest in the 65-year-old with Ferrari tipped as his next F1 venture.
Reports from Italy suggest Newey has already signed with the team, which has been denied by his manager Eddie Jordan.
However, another F1 team have emerged as being close to signing the former Red Bull star with Aston Martin reportedly favourites to land the Red Bull man.
According to The Times, Newey has entered talks with Stroll after receiving a private tour around their Silverstone factory.
Aston Martin's executive chairman Lawrence Stroll has ramped up his efforts to tempt Newey to the team, it has emerged, and he is now said to be confident that Newey will choose his team over Ferrari.
Aston Martin will hope that by securing the likes of Newey they can usurp their rivals for the next regulation changes in 2026.
Newey’s mastery of the ground effect era of cars have enabled Red Bull to dominate the last two seasons with Max Verstappen, a feat Stroll will be hungry to replicate.