Former world champions Red Bull have confirmed that their relationship with Formula One engine partner Renault is over and they will have a new engine partner later this year.
Bull's owner Dietrich Mateschitz revealed that the separation was by the mutual agreement, insisting there was no sense in working together any more, Sport24 reported.
Mateschitz asserted that they are likely to switch to Ferrari, adding that the latter would be a very acceptable solution for the next few years.
He further said that his team might quit Formula One if they don't find any competitive engine.
The decision came after Renault head Carlos Ghosn had declared that the French automaker would either buy a team or leave the sport, but would not continue as an engine supplier to others.
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