Earlier, the energy drink outfit was threatening to pull out amid its search for a new engine supplier.
But according to F1 business journalist Christian Sylt, writing in the Telgraph, team boss Christian Horner revealed in Red Bull’s latest accounts that it has “no plans or intentions that would materially affect the ordinary operations of the company within the next 12 months”.
It is believed Red Bull’s plan now is to plug the 2016 season with unbranded Renault power before switching to F1’s new ‘client engine’ supplier for 2017.
“It is fair to say that Red Bull has found a solution,” Renault F1 chief Cyril Abiteboul said. “But first of all we have to decide on our participation in F1.
“What do we want to do? What will we do with Lotus? With Red Bull and Toro Rosso? I know what the rumours are but the decision is for our CEO.”
It is understood that Renault president Carlos Ghosn will make a final decision before December 8. (GMM)