Elledge is taking over AJ Allmendinger's team while Sospenzo gets Michael McDowell's crew.
Elledge replaces Ricky Viers at Red Bull Racing starting this weekend at Chicagoland Speedway. Viers had crew chiefed the No. 84 Toyota since its inception at the start of the 2007 season.
Elledge most recently worked at Chip Ganassi Racing, where he spent several seasons with Casey Mears and Reed Sorenson, before a one-month stint with Juan Pablo Montoya earlier this year.
"Jimmy is a successful and very well-known crew chief in the NASCAR garage," Red Bull general manager Jay Frye said. "He'll be able to provide the experience and leadership for AJ and the No. 84 team to be competitive on a weekly basis."
Sospenzo won't start his new job until Indianapolis Motor Speedway. He'll replace Bill Pappas, who will move to head of engineering at Michael Waltrip Racing.
"Walking into Michael Waltrip Racing for the first time last night, I was surprised by how beautiful the facility is and how efficient the operation has become and I am really looking forward to working here," Sospenzo said.
Sospenzo has had numerous crew chief positions over the years, most recently a stint with Robby Gordon last season. He won races with Jeremy Mayfield at California and Pocono in 2000, and Joe Nemechek at Richmond in 2003.
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