The chapter Christian Horner is finally history at Red Bull. According to reports, the former Formula 1 team boss and the company have agreed at the negotiating table and dissolved the contract that is valid until 2030 in return for a compensation for millions.
As the “Daily Mail” and “The Times” report on their own sources on Monday, ex-team boss Christian Horner and Red Bull have agreed on an immediate contract termination. The British working paper originally ran until the end of 2030.
The lawyers of both parties had previously sat at the negotiating table for weeks in order to talk about the financial framework of the termination of the contract. According to the “Daily-Mail”, the company ultimately comes around its former employee to pay the outstanding salary in entirety.
For Horner, the damage is still limited. “The Times” writes about a gigantic severance payments for the 51-year-old in the amount of a whopping and writing 90 million euros.
Horner can look for a new Formula 1 team
Horner was the best paid team boss in Formula 1. From a previous Red Bull financial report, it can be seen that he already received just over ten million euros per season in the 2023 season. His salary is said to have been raised again in 2024.
According to the “Telegraph” bill, Horner is said to have granted at least around 70 million euros in salary by the end of the original contract term – but the actual sum was apparently even higher.
According to “Daily Mail”, Red Bull could officially confirm Horner’s final separation in the course of this week.
Good for the 51-year-old: In addition to the compensation for millions, the contract resolution has the advantage that he could join another team promptly. It has already been associated with Alpine and Cadillac in the past few weeks.