Red Bull well-placed for competitive 2017 Formula 1 engine deal

The team threatened to pull out of F1 if it was unable to replace long-term engine partner Renault with an alternative supplier.

Though it now has a stop-gap deal to run TAG Heuer-badged Renaults in 2016, Horner insists the prospects beyond that look good.

"It's difficult for me to say at the moment, without being able to announce what our engine plans are, but I believe we should be in a better position," he said.

"Everything's open. I think a lot of things are going to change."

Although the FIA's independent engine plan has been dropped in favour of a push to make the existing manufacturers offer cheaper supply deals, Horner has faith that those efforts will pay off and create new opportunities for teams in Red Bull's position.

"The FIA are all over this now," he said.

"Jean Todt is puffing his chest out that he wants to sort this out and he seems like a man on a mission.

"I think '17 represents a whole new beginning.

"There's a new set of chassis regulations, which is another opportunity for the group to grab hold of a clean sheet of paper. So I think the future actually looks very bright for the team."

Horner also believes the current balance of power between the F1 engine manufacturers could change quickly.

Although Mercedes has been dominant with Honda far behind, Ferrari pulled clear of Renault and reduced the gap to the front in the 2015 season.

"This time last year, the Ferrari engine looked the worst of the three," Horner said.

"Things can change very quickly, let's see what happens over the next three or four months."