UPDATE: Red Bull Racing has finalized a significant settlement with former team principal and CEO Christian Horner, valued at up to $150 million. This agreement comes after Horner’s dismissal from Red Bull GmbH following the British Grand Prix in July 2023, allowing him to explore opportunities in Formula 1 once again.
In an official statement, Oliver Mintzlaff, CEO of Red Bull’s corporate projects and investments, expressed gratitude for Horner’s two-decade tenure, stating, “With his tireless commitment, experience, expertise, and innovative thinking, he has been instrumental in establishing Red Bull Racing as one of the most successful teams in Formula 1.”
Horner, who has led Red Bull Racing to 124 Grand Prix wins, eight driver titles—including four by Max Verstappen and four by Sebastian Vettel—and six constructors’ titles, now exits after a tumultuous period for the team. His contract was initially set to run into the 2030s, leading to speculation that the settlement could be worth several tens of millions of dollars.
In a reflective statement, Horner said, “Leading Red Bull Racing has been an honor and privilege… I’m incredibly proud of what we achieved as a team breaking records and reaching heights no one would ever believe were possible.” His departure follows reports of internal struggles within Red Bull, particularly as the team faced challenges in keeping pace with competitors like McLaren.
While the specific reasons for Horner’s dismissal were not disclosed, it coincided with growing questions about the future of Verstappen and rumors of a power struggle among senior leaders at Red Bull. Additionally, Horner has faced allegations of inappropriate behavior, which he has denied.
With the settlement now confirmed, Horner is free to re-enter the F1 landscape, sparking curiosity about his next move. The racing community is abuzz with speculation as fans and teams alike await news on where this influential figure might land next.
This developing story continues to unfold, with implications for the future of both Horner and Red Bull Racing as they turn a new page. Fans should stay tuned for updates on potential announcements regarding Horner’s next steps in the world of Formula 1.
