Red Bull GmbH has released an official statement following the news of Christian Horner's formal departure from Red Bull Racing.
Horner was sacked as a team principal and CEO on July 9th, but was only removed from F1 operational duties and did not leave employment.
However, that has now changed with a severance package being agreed between Horner's lawyers and Red Bull GmbH - reportedly worth up to €60 million for his Red Bull Racing work alone.
It is understood Horner has agreed a gardening leave period of nine months from July 9th, meaning he could be free to work for another team from April 9th, 2026.
In the official statement announcing Horner's formal departure, Red Bull CEO of corporate projects Oliver Mintzlaff delivered a short statement.
"We would like to thank Christian for his exceptional work over the last 20 years," he said.
"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.
"Thank you for everything, Christian, and you will forever remain an important part of our team history."
Mintzlaff is the figure responsible for Red Bull's sporting projects, including both F1 teams, Red Bull Racing and Racing Bulls.
There was no statement from motorsport advisor Helmut Marko, with whom Horner had a fractious relationship.
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