Source:REUTERS/Lisi Niesner
[Saba Sports News] According to BBC reports, former Red Bull Team Principal Christian Horner has officially announced his departure, receiving a €60 million severance package. Horner, who was removed from his position as Red Bull Team Principal in July, reached a settlement agreement with the team today, formally leaving Red Bull Racing. It is understood that Horner received a massive severance payment of €60 million from Red Bull Racing. This severance sets a historical record for F1 team principals and is also a record high for similar positions in the sports world. The 51-year-old British national, Christian Horner, was also a racing driver in his youth. In 1997, he founded the Arden team in the F3000 series (predecessor to GP2). He officially ended his driving career in 1998 to focus on team management. In late 2004, Red Bull acquired the Jaguar F1 team to form Red Bull Racing, and Horner was appointed Team Principal in 2005, making him the youngest team principal in the paddock at the time. Over the next 20 years, Horner remained as Team Principal of Red Bull Racing, leading the team to 6 Constructors’ Championships and 8 Drivers’ Championships.