Horner leaves Red Bull after reported huge payoff

Former Formula One team boss Christian Horner has officially left Red Bull after being ousted in July, with British media reporting an 80 million-pound ($163m) settlement.

A Red Bull statement on the team website on Monday announced the 51-year-old’s formal departure but did not mention any financial terms.

Horner, one of the sport’s most successful team principals, was removed from his position at Milton Keynes by the Austrian energy drink company on July 9 after 20 years at the helm.

The Briton, who was replaced by Laurent Mekies, had remained an employee technically despite being released from his operational duties with the team.

The Daily Mail and Times newspapers both reported he had left with an 80 million-pound package -- less than he would have received had he served out his contract to 2030 -- and would be in a position to return to Formula One next year.

Media reports have said that Horner, who had been cleared of allegations of misconduct from a female employee at Red Bull, could take a stake in another team if he does make a comeback.

“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 forever carry that with me,” Horner said in the statement.