Ferrari chairman Sergio Marchionne welcomed the possibility of providing Formula One engines to the Red Bull team amid increasing talk that the team could leave the sport.

Red Bull’s exasperated owner Dietrich Mateschitz has threatened to pull out of F1 unless French engine supplier Renault improves the performance of its ailing power unit.

Red Bull, F1’s dominant team from 2010-13 when Sebastian Vettel won four straight titles, has not finisher higher than fourth in a race so far this season. An angry Mateschitz said earlier this week that Renault has “destroyed” his team’s enjoyment of the sport.

“I have a lot of respect for Red Bull,” Marchionne said before the Austrian Grand Prix on Sunday.

“I think they’ve done a lot for the sport, they’ve had the world championship for a number of years. I think they will find their way again and if we can help them get there, we’d be more than glad to do it.”

Russian driver Daniil Kvyat had Red Bull’s best result of fourth at last month’s Monaco GP, with Australian driver Daniel Ricciardo managing a season’s best of fifth – at the same race – having won three races last year in his first season with the team.

Red Bull has used Ferrari engines before, in 2006, although Marchionne was evasive about the timing of another deal.

“I think we can provide engines to any of the teams that want to race,” said Marchionne, who is also the chief executive of Fiat Chrysler.

“As long as we keep control over the aerodynamic work on the car, I think there’s going to be enough distinguishing traits between us and the competition.”