May 16 (GMM) Dietrich Mateschitz has ruled out relocating his pacesetting formula one team Red Bull Racing to Austria.

The energy drinks mogul and Austrian billionaire reopened the former A1-Ring, rechristened as the Red Bull Ring, at the weekend.

F1's most famous figure Bernie Ecclestone was even present, kindling rumours he might seriously be considering reviving the Austrian grand prix.

"This track is ready for formula one," Mark Webber told Kleine Zeitung newspaper after a few hot laps, and Sebastian Vettel agreed that a grand prix could be held now at the Red Bull Ring "theoretically and practically".

But Mateschitz insisted: "We will not get a formula one or a MotoGP race here."

More realistic, perhaps, is that Red Bull Racing is relocated from Milton Keynes (UK) to the facility.

"I've thought about it, but no," Mateschitz answered. "You can build whatever you want, but in Styria you cannot get 300 of the best people in formula one."

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