Carlos Sainz Jr. says he has “no intention” of breaking his Formula 1 contract with parent team Red Bull amid speculation about his racing plans for 2018.

Sainz claimed ahead of the Austrian Grand Prix that staying with B-team Toro Rosso for a fourth year in 2018 was “unlikely”, only for Red Bull F1 chiefs Christian Horner and Helmut Marko to come down heavily on the Spaniard, reminding him that he was still under contract for next season.

Sainz apologised and has since cleared the air with his bosses, and stressed that he has no intention of breaking his contract with Red Bull and Toro Rosso

“As in life itself, a contract has a lot of importance in Formula 1,” Sainz told Spanish outlet SoyMotor.

“Looking at my situation, I am happy where I am, and I have no intention of breaking any contract.

“I think everything was taken out of context, both my statements and maybe the reaction on their part.

“We are all much calmer and happier now.”

Sainz currently races alongside Daniil Kvyat at Toro Rosso, who is also rumoured to be closing in on staying with the Italian team for 2018 despite GP2 champion Pierre Gasly looking ready to make the step up to F1.

Horner has however said that Red Bull would listen to offers from rival teams for Sainz should they wish to sign him.

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Also known as, no one has an interest in Sainz to buy out his contract.