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The AlphaTauri Formula One team has denied rumours it is up for sale, with team principal Franz Tost saying Red Bull will continue to support it going forward.

Reports in the German media last week said the team could be sold by Red Bull, but a statement on the eve of the new season denied that was the case.

Tost said he had spoken with the new boss of Red Bull’s motorsport projects, Oliver Mintzlaff, and received confirmation the team is not for sale.

“I had some very good meetings with Oliver Mintzlaff, who confirmed that the shareholders will not sell Scuderia AlphaTauri, and that Red Bull will continue supporting the team in the future,” Tost said.

“All these rumours have no foundation, and the team has to remain focused for the start of the season to perform better than last year.”

AlphaTauri is Red Bull’s junior team in F1 and was set up in 2006 as a finishing school for drivers from Red Bull’s young driver programme.

It enters the new season with Yuki Tsunoda and Dutch rookie Nyck de Vries driving for the team.

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AlphaTauri quashes rumours that it could be sold by Red Bull