Massive Perez crash set to cost Red Bull MILLIONS

A terrifying lap one crash has caused Red Bull to lose at least £2m after the Monaco Grand Prix.

Sergio Perez collided with the Haas of Kevin Magnussen, after the Dane attempted an overtake up the hill after Turn 1.

READ MORE: Red Bull DISASTER diminishes championship lead

Magnussen’s team-mate Nico Hulkenberg was also caught up in the three-car pile up, with Perez’s Red Bull completely destroyed.

All three drivers were able to exit their cars safely, however, their race weekend was over resulting in expensive damages for both teams.

Who was at fault for Monaco lap one incident?

The stewards deemed no further investigation necessary after the crash, with both Perez and Magnussen attributing blame to one another.

Speaking to Sky Sports after the race Magnussen suggested he had nowhere to go with Perez ‘squeezing’ him to the wall.

"From my point of view, I had a good part of my front on Perez's rear and when he went to the wall I got pushed to the wall and made contact with him," Magnussen said.

"I trusted he was going to leave space for me since I was there. From my point of view, I was there and I got squeezed to the wall."

On the other hand, Perez stated the Dane’s actions were ‘unnecessary’, criticising his driving style.

"It was an immense crash, one I'm disappointed about. I think it was totally unnecessary at that point of the race and there was no need for that,” he said.

"At some point you have two options: Lift or have a contact, and I think it was too unnecessary with the speeds we were doing and it was a massive contact. It was important to take things a little bit calmer."

READ MORE: Red Bull F1 car destroyed in BRUTAL multi-car smash

Hulkenberg called both drivers’ stupid for their first lap antics, which has had staggering financial implications for Red Bull, costing the team millions.

“This is costing us about two to three million and with the budget cap that is of course a big handicap. It was another crash that Magnussen was involved in,” Red Bull chief Helmut Marko told Sky Germany.

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