May 19 (GMM/ Audi has taken a step back from speculation it is contemplating a foray in formula one.

Off the back of the ever-burgeoning rumours, the VW brand’s chief Rupert Stadler admitted last week that entering F1 is “an option for Audi”.

But on Monday, Stadler was back-pedalling, indicating that the current state of the pinnacle of motor sport was not attractive for Audi.

“Formula one needs to solve its problems on its own,” he was quoted as saying by the German daily Handelsblatt.