Midland owner Alex Shnaider says he is committed to Formula One and has no intention to sell the MF1 Racing team.
Shnaider, who bought the Jordan team in January last year, was surrounded by rumours that he was looking to offload the team after a disappointing season.
But the Russian, whose Midland company has extensive interests throughout the former Soviet Union and Eastern Europe, says he wants to stay in F1 for a long time.
"The plan is to stay in F1," said Shnaider during the launch of the new MF16 car at Silverstone. "I have no plan to sell. I'm here to stay. I am committed to F1 and it is a great sport."
Asked if he was in F1 for the long-term, he responded: "Yes."
Shnaider, however, did not rule out joining forces with a partner if the right offer came along.
"We are always looking for a partner. But right now this is the Midland team, although if someone came along who could offer us some value then we would not rule it out," he said.
"I like this sport. I was a fan of F1 beforehand and I like the fact it is a global sport and we can use it as a platform, a global platform, for our company."