Christian Horner formally leaves Red Bull after agreeing a severance deal following his sacking as team principal in July.
Christian Horner has formally left Red Bull after agreeing a severance deal following his sacking as team principal in July.
A source close to Red Bull told BBC Sport that Horner had been given a pay-off of 60m euros (£52m).
The 51-year-old was in charge of the Formula 1 team since their inception in 2005, leading them to eight drivers' championship and six constructors' championship titles.
On 9 July the team announced he had been "released from his operational duties".
In a statement on Monday Oliver Mintzlaff, Red Bull's chief executive officer corporate projects and investments, thanked Horner for his "exceptional work".
He added: "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 in the same statement that leading Red Bull had been "an honour and a privilege".
More to follow.
Category: General Sports
