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Following his dismissal as team principal in July, Christian Horner has officially departed Red Bull after reaching a severance agreement. While Red Bull's official statement regarding his exit did not specify on financial details, a source familiar with the matter revealed that Horner received a substantial pay-off of €60 million (£52 million), potentially marking one of the largest payouts ever seen in the world of sports. The 51-year-old had been at the helm of the Formula 1 team since its founding in 2005, guiding them to an impressive eight drivers' championships and six constructors' championship titles.
He had a salary of 12m euros (£10m) a year and a contract to 2030.
On 9 July Red Bull said Horner had been "released from his operational duties". He was dismissed after a controversial 18 months that started when a female employee accused him of sexual harassment, an allegation that was made public in February 2024.
Horner was twice cleared of the claims, firstly after an internal investigation conducted by a lawyer, then by another lawyer who dismissed the complainant's appeal.
But the revelation exposed a power struggle at the team which accompanied a loss of competitiveness.
Red Bull's long-time design leader, Adrian Newey - regarded as the greatest designer in F1 history - left the team in April last year. He was upset by the allegations, as well as the way he perceived his importance had been diminished by Horner and others at the team.
Long-time sporting director Jonathan Wheatley followed in July. He is now team principal of Sauber for their transition into Audi's factory team next year.
As Red Bull's form declined through the first half of this season, relations between Horner and the main shareholders worsened. Horner lost the support of the main shareholder, Chalerm Yoovidhya, who saved him when the allegations first became public, and Oliver Mintzlaff, Red Bull's chief executive officer corporate projects and investments, decided to sack him after a poor performance by the team at the British Grand Prix.
In a statement on Monday Mintzlaff thanked Horner for his "exceptional work".
"With his tireless commitment, experience, expertise and innovative thinking, he has been instrumental in establishing Red Bull Racing as one of the most successful and attractive teams in Formula 1," Mintzlaff said.
Horner said in the same statement that leading Red Bull had been "an honour and a privilege".
