Red Bull is not in a hurry to sell its secondary formula one team Toro Rosso, owner Dietrich Mateschitz has revealed

Red Bull is not in a hurry to sell its secondary formula one team Toro Rosso, owner Dietrich Mateschitz has revealed.

With all teams needing to be a full constructor by next year, the Austrian billionaire has said he is looking to offload the former Minardi squad because "there is no movement" in the customer car situation.

"If a respectable prospective purchaser comes forward, we will talk with him," Mateschitz told the Kleine Zeitung newspaper.

"For the medium-term Toro Rosso is for sale," he said.

Amid the difficult global situation, however, he acknowledges that buyers of F1 teams are likely to be scarce, and pledges to continue to back Toro Rosso.