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
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.
Christian Horner could be in line for a bumper pay out after being sacked by Red Bull this week
The former Red Bull team principal - with his Spice Girl wife Geri Halliwell - was the highest-paid boss on the Formula One grid
Horner oversaw a period of smash success, with Max Verstappen winning the last four drivers' championships
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.
Horner was despatched effective immediately on Wednesday halfway through the season
Previously Horner had the valuable support of Thai co-owner Chalerm Yoovidhya (left)
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.
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The Educational Policy Institute (EPI) shows that children who have been suspended from school just once are almost twice as likely to be claiming out of work or health benefits by the time they reach 24. Many of these children will go on to be suspended repeatedly. Get more than 10 suspensions and they are five times more likely to be on welfare in adulthood. Many of these payments do not require people to look for work, condemning many to a life on benefits. Those who do find a job will still pay the price for their absences. A DfE study published this year found 15 and 16-year-olds who missed half their lessons earned on average £21,000 less than those who were hardly absent by the time they were 28. The crisis in schools risks making the youth worklessness crisis worse at a time when close to 1m young people are already not in employment, education nor training (Neet). 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Cook, at the CSJ, says action to tackle the mounting issues facing Britain must start in the classroom. By the time young people join the dole queue, it is often too late. He says: 'The social contract in this country is fraying, and as parents we must step up to do our bit. Attendance is not optional, getting children to school is the first step in giving them a future.' In the space of just one academic year, Sheedy has managed to halve the number of severe absentees missing more than half their lessons, cutting it from one in five to one in eight. The number of unauthorised absences is down by a third. He recognises there is still much more work to do, with a significant share of pupils still missing at least half a day of school a week. But rising attendance is already leading to better results and Sheedy beams as he boasts of overtaking other schools in the local area in terms of attainment. It is important to get back to basics, he says. 'You have to make sure that you've got a calm and orderly building. We've got 22 children who are visually impaired. Five years ago, those children didn't leave the provision they had upstairs, whereas now they're integrated into lessons and down in the canteen eating their lunch, which was just not an option before. 'Imagine sitting there minding your business, and a cheeseburger just flies into the back of your head.' Hanson, once one of the worst in the country for attendance, now welcomes headteachers from across the UK who want to learn how to keep children coming to class. It's a remarkable turnaround, but just one of many required to save Britain from a future crisis.
