Carlos Sainz will stay with Toro Rosso for 2017 after Red Bull took up the option on his contract for next season.

After being strongly linked with a potential switch to Ferrari as a replacement for Kimi Raikkonen, Red Bull has fended off any interest by taking up the option on Sainz's contract to remain with Toro Rosso for 2017.

Red Bull team principal Christian Horner confirmed the agreement at a media event on Wednesday ahead of the Austrian Grand Prix.

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"We took up his option earlier this week, so he's committed to Red Bull for the next 12 months and, as with all the drivers, they are contracted to Red Bull Racing and we have the ability to place them where we want," Horner said. "He is currently at Toro Rosso, which is where we expect him to be next year.

"We had until the end of the year to take up the option and we chose to do it early to put his mind at rest."

Horner has also hinted he expects Sainz's current team-mate Daniil Kvyat to be retained in the Red Bull stable for 2017 with limited candidates failing to shine in the junior programme.

"Daniil Kvyat is continuing his development and you can see that he is finding his feet now and there is not an obvious candidate knocking on the door at the moment who would warrant that seat.

"It's great for us to have a development programme that is producing talent like Ricciardo, Verstappen, Sainz as well and obviously Daniil Kvyat. We are not short of talent in our stable."