AlphaTauri has issued a statement denying media reports that the team could be sold.

"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," said team principal, Franz Tost in the statement.

"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.”

The statement is in reaction to a story which emerged in the German media during pre-season testing, which claimed that under the new management put in place following the death of Dietrich Mateschitz, the team could either be moved to the UK or sold.

While the immediate assumption was to link Andretti with a possible bid, Hitech GP and Mumbai Racing were also mentioned.

Though Tost might insist that there is "no foundation" to the story, speaking at the weekend, Helmut Marko admitted that such a move was possible.

"We don't generally comment on rumours," he told Sky Sports. "But it's understandable AlphaTauri cannot be satisfied with what it achieved last year, ninth place in the constructors' championship.

"But such a decision rests entirely with the shareholders," he added. "Though if the team doesn't perform properly, then it doesn't help either."

Though Tost has ruled out the sale of the team there is no mention of a possible move to the UK on to the Red Bull campus.