It's important to note that none of this is confirmed quite yet. According to Autosport, unnamed sources have revealed that an agreement has been reached, and images leaked out revealing a Martin-branded Williams shirt earlier this week (they've since been pulled down). There hasn't been an official announcement from either party just yet, but all things considered, it seems like a done deal.
Martini's tie-up with Williams will make it a title sponsor for the team, which will be called Williams Martini Racing, according to Autosport. We're probably going to be waiting a little while before we see the newly formed team's livery, although we'll admit that based on past Martini cars, which you can see above, we have a rough idea of what to expect. Apparently other sponsors, need to be sorted out before the team can start designing its new look.
We're quite happy to see the Martini name return to racing. Hopefully the return of such a classic motorsports sponsor will be enough to elevate Williams beyond its past decade of mid-pack mediocrity. We'll find out when the 2014 Formula One season kicks off in Australia on March 16.