Christian Horner is set to receive over £80 million as a settlement from Red Bull following his sudden departure from the Formula 1 team. After being ousted in July without prior notice, the 51-year-old, who had led the team for two decades, was replaced by Laurent Mekies as team principal and chief executive.
Horner, who had a long-term contract with Red Bull GmbH, remained an employee until the settlement was finalized. Recent filings with Companies House confirmed that Horner had been officially removed as a director from all three UK-registered companies linked to the racing team.
Reports indicate that the settlement deal between Horner and Red Bull will see him compensated with more than £80 million, despite his contract originally extending until 2030. Following F1 norms, Horner will have to observe a gardening leave period before potentially joining another team, with speculations suggesting a return to the paddock in the middle of the upcoming season.
Despite his successful tenure at Red Bull, Horner’s relationship with the Austrian leadership had deteriorated in recent years, particularly after the passing of co-owner Dietrich Mateschitz. Horner’s departure signifies the end of an era that saw Red Bull achieve remarkable success in the sport.
As fans eagerly anticipate the upcoming F1 season, the team’s new leadership under Mekies has already shown promise, securing consecutive victories for Max Verstappen. However, challenges lie ahead as Red Bull transitions into a works outfit in collaboration with Ford, a project initiated by Horner prior to his exit.
With uncertainties surrounding Horner’s future in F1, it remains to be seen where his next venture will take him, as industry insiders speculate on potential opportunities for the seasoned team principal.