Red Bull has reached an agreement with Honda that will allow the two energy drink-owned teams to continue to use the departing Japanese manufacturer’s F1 engines after 2021.
The only thing missing now, according to Dr Helmut Marko, is for the other teams and the FIA to agree to freezing engine development.
As for the Red Bull-Honda arrangement for 2022 and beyond, Marko told German media: "Everything has been settled between us. Everything is in the starting blocks.
"The talks were very constructive, they were very, very accommodating, and it can be a very competitive engine in the future even without the official factory support.
"All that is left for the ok is when we have written proof from the FIA that the development freeze on the engine side is coming," he added.
Marko said final clarification about the 2022 freeze "should be made next week".
He insists, though, that the freeze is not just good for Red Bull.
"This engine (formula) proved to be such a cost driver in Formula 1. It makes no sense to invest any more in it now," said the Austrian.
"For Formula 1, it is a very clear decision of reason."
Marko warned that if the freeze is not put in place, "that would make Red Bull drastically rethink its situation in Formula 1".
"This is not blackmail," he insisted, adding that Red Bull does not have a plan B. "For reasons of reason and cost, an engine freeze is just the only way now with these ill-fated engines."