Sacked Christian Horner 'in line for £66MILLION Red Bull pay-off' after bosses axed his £12m-a-year contract almost six years early to get him out

Christian Horner is reportedly in line for a bumper pay-out after being sacked as team principal by Red Bull this week.

The 51-year-old was relieved of his duties after 20 years in charge of the constructor, which under his aegis won eight drivers' championships and six constructors' championships. 

Horner's sacking came a year and a half after the former team principal was caught up in a media controversy that threatened to engulf the entire team. 

The 51-year-old was accused of sexual harassment and coercive and controlling behaviour by a female employee following the revelation of alleged sex texts sent by the Red Bull boss, who is married to former Spice Girl Geri Haliwell.

He was twice cleared, initially after an internal investigation conducted by a lawyer, and then by another lawyer who dismissed the female employee’s appeal. Horner has strongly denied the claims.

But while Red Bull backed their man throughout the unfolding saga in 2024, relations have undoubtedly cooled in the following months - with the constructor's parent company Red Bull GmbH believed to be willing to pay a staggering pay-out to close the door on Horner's tenure. 

As per Telegraph Sport, Horner's lawyers are currently in the midst of agreeing a suitable settlement for the Briton, after Red Bull called time on his lengthy contract. 

Horner was contracted at the constructor for a further five-and-a-half years, with his multi-million-pound deal due to finish in 2030. 

As per the latest accounts available for Red Bull Technology Ltd, after receiving an 11 per cent pay rise in 2023 when he signed new terms, his annual salary rose from £8.04million to £8.92m. 

However, it is thought that this may have risen even more after the constructor won yet another drivers' championship at the end of last season, with some estimating the number to be close to the £12m-mark. 

With lawyers likely to push for the remainder of his contract to be paid out in full, Horner could be in line for a staggering £66m-plus deal to finally cut ties with his former role. 

During his farewell speech at the constructor's Milton Keynes base, Horner noted that he would continue some involvement with the team that he built from the very beginning. 

But, Horner added, 'operationally the baton will be handed over'. 

Horner's dismissal is believed to have stemmed from the end of the dominance of Thai faction in Red Bull's parent company ownership. 

Documents filed to the Regional Court of Salzburg in Austria this May revealed that Chalerm Yoovidhya - the son of Red Bull co-founder Chaleo Yoovidhya - had his unique two percent stake deleted.

Chaleo and Austrian co-founder Dietrich Mateschitz each held a 49 per cent stake in the company, with Yoovidhya's two per cent allowing for additional decision-making within the set-up.

Yoovidhya is believed to have been a key ally of Horner, and publicly threw his support behind his team principal amid the unfolding controversy last year.

Mark Mateschitz, who holds his father's shares in the wake of his death in 2022, was thought to have withdrawn his support for the embattled team principal.

But with the deletion of his stake, the two per cent has transferred to Swiss investment company Fides Trustees, 'an independent boutique Trust company that strives to deliver excellent service combined with a prudent yet entrepreneurial approach to Trust and Corporate services', as per its website.

With the Thai and Austrian ownership groups now equally weighted as stakeholders, this may have cleared a pathway for Horner's dismissal.

Wholesale changes are thought to be afoot at the constructor, with news breaking on Thursday that alongside Horner, a number of his key allies within the team have been moved on.

Employees close to Horner and in some cases hired by the 51-year-old are set to go as incoming team principal Laurent Mekies seeks to stamp his own vision on the constructor.