Monaco GP: Red Bull designer Adrian Newey to stay on

Formula 1's pre-eminent car designer Adrian Newey has ended speculation about a move to Ferrari by saying he will stay at Red Bull.

The 55-year-old, who has led the design on the cars that have won the past four world championships is said to have received an offer from Ferrari.

But, at the Monaco Grand Prix, he said: "I remain committed to Red Bull for the foreseeable future."

Newey is believed to have a Red Bull contract until the end of 2017.

His future at the team is tied to that of team principal Christian Horner, whose own contract is thought to run for the same period.

Horner said both men were "100% committed" to Red Bull, adding: "Ferrari have had a disappointing few years and it's inevitable they're going to be looking to recruit."

Ferrari are determined to improve their fortunes after a disappointing start to this season led to the resignation of former team principal Stefano Domenicali after the Bahrain Grand Prix in April, where their drivers Fernando Alonso and Kimi Raikkonen finished ninth and 10th.

New team principal Marco Mattiacci made it clear at his first race in charge, the Chinese Grand Prix immediately after Bahrain, that Ferrari would "go to the market" for new personnel if they felt it was required.

It has emerged they have since made the latest in a series of approaches to Newey, who at the last race in Spain heightened speculation about his future by saying: "We're all under contract so at some point I've got to think about my future."

Ferrari team principal Marco Mattiacci said in a news conference in Monaco on Thursday: "Did I invite Adrian Newey to work at Ferrari? No."

Monaco Grand Prix full coverage details.