Red Bull boss denies he is selling F1 team to Audi

Dietrich Mateschitz has denied reports he might be looking to sell his Formula 1 team Red Bull to Audi.

On Thursday, stories emerged in the German press suggesting that the Red Bull mogul and billionaire might be looking to go beyond his role as a team owner and buy into the sport's commercial rights.

In the process, he might be offering to sell the multiple title-winning Milton-Keynes based team to Audi, the Volkswagen-owned German carmaker, for €300 million by 2017.

"I don't know anything about it," Austrian Mateschitz insisted to the German-language Speed Week. "As far as I know, we are having no such 'clearance sale'," he added.