U2 and Take That are among the stars set to perform at Formula 1 Grand Prix races this summer, it’s been reported.

Both bands' record label, Universal, is believed to have signed a deal with the sport’s owners for its acts to appear at various races across Europe.

The agreement also includes “stars from the world of movies, sport and fashion”, according to the Sun newspaper.

Universal’s chairman Lucian Grainge said the collaboration would create “a groundbreaking, all-new entertainment spectacular”.

Formula 1 boss Bernie Ecclestone added: “I’ve always said we are in the entertainment business and this deal marks a new dimension for Formula 1.

“I have high hopes for it.”

Girls Aloud and The Pussycat Dolls, whose lead singer Nicole Scherzinger dates world champion Lewis Hamilton, could also perform as part of the deal.

(by Jason Gregory)