Spielberg (Austria), June 22 (IANS): Formula One Ferrari chairman Sergio Marchionne said he would be "glad" to supply engines to Red Bull, after the latter ends its contract with Renault in 2016.

Red Bull has been critical of current supplier Renault, with the four-time world champion team launching another attack on the French manufacturer for poor performance at this weekend's Austrian Grand Prix.

The Red Bull-Renault deal runs to the end of 2016, with both parties saying they are considering their futures in F1.

"I have a lot of respect for Red Bull. I think they've done a lot for the sport, they've had the world championship for a number of years," Marchionne, whose Ferrari team currently supplies Sauber and Manor F1 teams with engines, was quoted as saying by autosport.com on Sunday.

"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. It's in our DNA, we've done it before. I think we can provide engines to any of the teams that want to race."

He added he had no concerns about supplying a strong rival with an equal engine.

"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," Marchionne said.

"We are more than glad to try and provide a level playing field now that the engine is there."

A series of failures with the Renault power unit meant Red Bull's driving pair of Daniel Ricciardo and Daniil Kvyat both took penalties in Austria after exceeding their allowance of four engines for the first time this season. They finished 10th and 12th in the race on Sunday.