Helmut Marko insists that there's no room for Sebastian Vettel alongside Max Verstappen at the Red Bull Racing Formula 1 team because it "can't afford" the four-time world champion.
Ferrari announced on Tuesday that it would be parting ways with Vettel at the end of 2020, after negotiations over a one-year extension broke down.
Vettel joined the Scuderia in 2015 after a six-year stint with the Red Bull team, during which time he won all four of his world titles.
Red Bull's motorsport boss is adamant that Vettel is a "non-topic" for the team and the parent company.
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Marko told Sky Germany earlier this year that a return to RBR alongside Max Verstappen was unlikely, explaining that his view "for very simple monetary reasons, we can't afford two such top stars."
At the time Vettel's availability for 2021 was only theoretical, but Marko has not changed his mind in the wake of Tuesday's news.
"My statement was no two 'Vs' at Red Bull Racing," he told Autosport.
"That we don't want to afford financially. And we can't afford it either."
Marko downplayed Vettel's suggestion in an official Ferrari statement that money was not a critical issue in his discussions with the Italian team, pointing out that the Maranello still proposed a higher figure than Red Bull would be prepared to pay.
"The amounts Ferrari offered to him and what [Alex] Albon earns in comparison are miles apart."
Marko admitted "we are always in contact," but stressed that Vettel "has been informed that at the moment the situation is fixed with Max as number one driver.
"We cannot and will not afford two top stars."
Carlos Sainz remains favourite for the Ferrari seat, with sources close to Autosport indicating that a deal could be announced as soon as next wee, while Daniel Ricciardo has also been tipped.
On Tuesday, Mercedes boss Toto Wolff admitted the reigning world champions must take Vettel's Ferrari exit "into consideration" when sorting its own driver line-up for the 2021 season.