Horner formally leaves Red Bull with £52m pay-off
Pay-off follows July sacking; Red Bull lauds Horner's role in building a dominant F1 era
Christian Horner has formally left Red Bull after agreeing a severance package following his sacking as team principal in July. A source close to Red Bull told BBC Sport the pay-off total was 60 million euros (£52 million).
Horner has led Red Bull Racing since the team's inception in 2005, guiding them to eight drivers' championships and six constructors' championships. On 9 July, the team announced he had been 'released from his operational duties'.
Oliver Mintzlaff, Red Bull's chief executive officer for corporate projects and investments, thanked Horner for his 'exceptional work', saying that with his 'tireless commitment, experience, expertise and innovative thinking' he helped establish Red Bull Racing as one of the most successful and attractive teams in Formula 1. Horner said in the same statement that leading Red Bull had been 'an honour and a privilege'. More details are expected to follow.