Christian Horner has officially left Red Bull after his sacking as team principal in July, the Formula One racing team says in a statement.
Horner, who led Red Bull to eight drivers titles and six constructors crowns, reportedly agreed a huge payoff with the team, which announced his departure on Monday.
The 51-year-old’s contract, which had been due to run until 2030, has now concluded, and he will be free to return to the sport, potentially as soon as next year.
Media reports in Britain suggested Horner will receive up to $107m in the payoff.
A Red Bull Racing statement read: “Oracle Red Bull Racing announces today that team principal and CEO Christian Horner will leave the team today.”
Horner said leading the team had been an “honour and privilege”.
“When we started in 2005, none of us could have imagined the journey ahead – the championships, the races, the people, the memories,” he said.
“I’m incredibly proud of what we achieved as a team, breaking records and reaching heights no one would ever believe were possible, and I will forever carry that with me.”
Oliver Mintzlaff, CEO of corporate projects and investments, thanked Horner for his “exceptional work”.
“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,” he said.
“Thank you for everything, Christian, and you will forever remain an important part of our team history.”
Horner was released from “operational duties” on July 9, 17 months after he was accused by a female colleague of “inappropriate behaviour”.
He was twice cleared of the allegations by the Formula One team’s parent company, Red Bull GmbH.
But there were rumblings of discontent within the team and several high-profile departures while form on the track dipped.
Dutchman Max Verstappen has won the past four drivers titles for Red Bull, matching the achievement of Sebastian Vettel, who dominated for the team from 2010 to 2013.
Verstappen, who won the Azerbaijan Grand Prix on Sunday, is third in the standings this season.
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