Ricciardo contract talks progress after meeting with Mateschitz

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Daniel Ricciardo and Red Bull owner Dietrich Mateschitz held one-on-one talks behind closed doors at the Red Bull Ring on Sunday, the Aussie emerging from the meeting his usual smiling self.

Ricciardo is still in the process of trying to determine his future, his current contract with Red Bull Racing running out at the end of the current year.

While rumors have put the seven-time Grand Prix winner at Ferrari, Mercedes and even McLaren, in all likelihood Ricciardo will remain with the Milton Keynes-based outfit, his only reasonable choice.

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The Honey Badger endured a difficult Austrian Grand Prix, retiring from the race after 53 laps with a broken exhaust, but team mate Max Verstappen's impressive win will have no doubt helped Red Bull's cause to convince Ricciardo to remain onboard to 2019.

The $20 million question however is at what price? And that was likely at the center of Ricciardo's discussions with Mateschitz.

"I spoke with the big boss, who I like a lot," the 29-year-old driver told Italy's Corriere dello Sport.

"It's a pity he doesn't run the team alone because everything is easier with him," Ricciardo smiled.

"But there's still some time to understand what needs to be done. We'll see how things evolve."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.