Horner formally leaves Red Bull with £52m pay-off

Christian Horner, who was fired as the team’s principal in July, has accepted a severance deal and officially signed a deal with Red Bull.

Horner received a pay-off of 60 million euros (£52 million), according to a source close to Red Bull, according to a source close to the company.

Since its founding in 2005, the 51-year-old has led the Formula 1 team to eight drivers’ championships and six constructors’ championship victories.

After a contentious 18-month investigation that allegedly began with a female employee’s accusation of sexual harassment, which was made public in February of this year, he was fired.

Horner’s lawyer conducted an internal investigation, which turned up a second time, and that lawyer dismissed the complainant’s appeal.

Horner was praised for his “exceptional work,” according to Oliver Mintzlaff, Red Bull’s corporate projects and investments, in a statement released on Monday.

He continued, “He has contributed greatly to Red Bull Racing becoming one of the most successful and attractive teams in Formula 1 with his tireless commitment, experience, expertise, and innovative thinking.”

In the same statement, Horner claimed that it was “an honor and a privilege” to lead Red Bull.