Feb.20 (GMM/Inautonews.com) Dietrich Mateschitz has denied reports he might be looking to sell his F1 team Red Bull to Audi.

On Thursday, stories emerged in the German press suggesting that the Red Bull mogul and billionaire might be looking to go beyond his role as a team owner and buy into the sport’s commercial rights.

In the process, he might be offering to sell the multiple title-winning Milton-Keynes based team to Audi, the Volkswagen-owned German carmaker, for EUR 300 million by 2017.

“I don’t know anything about it,” Austrian Mateschitz insisted to the German-language Speed Week.

“As far as I know, we are having no such ‘clearance sale’,” he added.