Red Bull release statement confirming Christian Horner exit as settlement reached

Red Bull have confirmed that they have completed the process of cutting ties with former F1 team principal Christian Horner.

The 51-year-old was officially relieved of his duties back in July, but remained an employee of the company as the details of his settlement were worked out.

The Brit was replaced by Racing Bulls boss Laurent Mekies, with Red Bull now releasing an official statement from Horner and Mintzlaff.

Red Bull's announcement comes after Horner and the team have reached a multi-million pound agreement to formally end their 20-year association.

A statement from Red Bull said: “Oracle Red Bull Racing announces today that Team Principal and CEO Christian Horner will leave the team.”

Mintzlaff, who is the CEO Corporate Project and Investments at Red Bull, added: "We would like to thank Christian for his exceptional work over the last 20 years.

"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."

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Horner axe made official in exit statement

Horner also issued a statement of his own, where he said: "Leading Red Bull Racing has been an honour and privilege.

"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 for ever carry that with me.

"However, for me my biggest satisfaction has been assembling and leading the most amazing group of talented and driven individuals and seeing them flourish as a subsidiary of an Energy Drinks company and seeing them take on and beat some of the biggest automotive brands in the world.

"I wish Laurent, Max, Yuki and all of the Red Bull Technology Group the very best for the future. I am confident they will, as ever, deliver success on the track, for our fans, and continue to push to the maximum and I look forward to seeing the first Red Bull / Ford engine in the back of RB22 next year as well as the exciting RB17.

"I would like to thank our incredible sponsors and partners for their unwavering support who have played a key role in all our success. I would like to say a big thank you to the fans for their ongoing belief and without whom there would be no Formula One.

"Racing aside, I would also like to thank the shareholders, the late Dietrich Mateschitz for the opportunity he gave me as a 31 year old, Mark Mateschitz and Saravoot Yoovidyha and finally Chalerm and Daranee Yoovidhya for their friendship and commitment during my time at Red Bull as well as Oliver Mintzlaff and the Board for their guidance."

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