Red Bull Racing and former team principal Christian Horner have finalised a contract termination agreement that frees him up to return to Formula 1.
In addition to being the F1 team boss, Horner was in charge of Red Bull’s Powertrains company and Red Bull Applied Technologies, and his contract ran into the 2030s, making the settlement likely to be worth several tens of millions of dollars and potentially as much as $163.7 million Australian (£80 million), according to the London Telegraph.
Horner was officially terminated on August 13 after being dismissed by the team’s parent company, Red Bull GmbH, following July’s British Grand Prix.
“We would like to thank Christian for his exceptional work over the last 20 years,” Red Bull CEO, corporate projects and investments, Oliver Mintzlaff said in a statement.
“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.”
Horner said leading Red Bull had been an “honour and a privilege”.
Former Red Bull team principal Christian Horner.Credit: Getty Images
“When we started in 2005, none of us could have imagined the journey ahead – the championships, the races, the people, the memories.
“I’m incredibly proud of what we achieved as a team breaking records and reaching heights no one would ever believe were possible, and I will forever carry that with me.”
- For more: Elrisala website and for social networking, you can follow us on Facebook
- Source of information and images “brisbanetimes”“
