With limited options, following Honda's announcement that it is to leave the sport at the end of 2021, both Horner and Red Bull motor sport consultant, Helmut Marko have admitted that the preferred route would be to purchase the Japanese manufacturer's IP.

However, if this is to proceed, Horner and Marko have made clear that in order to move forward they would require a freeze on engine development from 2022 in a bid to limit further spending.

While Mercedes - understandably - is in favour of the freeze, as are F1 bosses, Renault and Ferrari - which retains its power of veto - are against it.

With the clock already ticking, Horner warns that clarity is needed by the end of this month.

"There are some practical things that need to be decided," he told reporters. "Engine stuff is such a long lead time, and if we were to take on a project like that then there's quite a lot of work behind the scenes that would obviously need to happen and be put in place.

"Really by the end of this month we need to be firming up on a position," he added.

"Our preferred option would be to continue with the power unit that is in the car next year," he admitted, "obviously rebadged as something else.

"If we can make an agreement with Honda regarding the use of the IP and product moving forward... it would be a great shame to see those engines in a warehouse somewhere in Japan.

"So subject to what the regulations are, it would be the preferred route would be to find an agreement to continue with those power units."

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