Company documents have revealed Red Bull Racing earned over \u00a3314 million throughout 2024, while now ex-team boss Christian Horner received a pay rise.<\/p>\n
As he did so, his team recorded a post-tax profit of \u00a31.681 million, a figure that rose from the previous year.<\/p>\n
Red Bull F1 accounts posted as Christian Horner departs<\/p>\n
Accounts filed with Companies House in the United Kingdom have revealed Red Bull Racing saw its income rise by \u00a37 million ($9.5m) in F1 2024 over its all-conquering F1 2023 campaign.<\/p>\n
The team had a turnover \u00a3314.409 million ($425m), a figure that represents \u201csponsorship and promotional income, prize money, bonus payments and contributions towards the race programme.\u201d<\/p>\n
Red Bull finished second in last year\u2019s Constructors\u2019 Championship, though it enjoyed prize money payments based on winning the title in F1 2023.<\/p>\n
That entitled it to the largest percentage of the $1.266 billion (\u00a3940m) prize money pie paid out by the sport\u2019s commercial rights holder, as determined by the secretive Concorde Agreement. It\u2019s estimated Red Bull Racing received around $87.5 million (\u00a364.75m) courtesy of Formula 1 alone.<\/p>\n
The Horner-led operation therefore boasted other income streams worth in the vicinity of \u00a3250 million ($340m).<\/p>\n
Ahead of the F1 2025 campaign, the team\u2019s relationship with Bybit reached its \u2018natural conclusion\u2019 after a three-year deal that began in 2022.<\/p>\n
More on Red Bull and Christian Horner<\/p>\n
\ud83d\udc49 Horner closes in on F1 return with huge $100 million Red Bull settlement<\/a><\/p>\n \ud83d\udc49\u00a0Laurent Mekies explains Red Bull\u2019s recent step forward following Monza data claims<\/a><\/p>\n The crypto platform was reportedly worth $150 million (\u00a3110m) over that period, suggesting it accounted for around \u00a335 million ($50m) of the team\u2019s income in F1 2024. Oracle is estimated to contribute double that figure \u2013 a deal believed to have been orchestrated by Christian Horner and group marketing and\u00a0commercial officer, Olly Hughes.<\/p>\n The pair were also instrumental in securing title backing for Red Bull\u2019s sister team, Racing Bulls, through Visa and Cash App.<\/p>\n Horner\u2019s salary is another key figure revealed in the accounts.<\/p>\n As the highest paid director of the organisation (Helmut Marko is the only other listed director), Horner is listed with a remuneration figure of \u00a37.046 million ($9.52m), a modest \u00a346,000 ($62,160) rise on 2023.<\/p>\n On Monday, Horner officially departed Red Bull after being placed into a non-operational position in the days following the British Grand Prix.<\/p>\n In the split, PlanetF1.com revealed he agreed an early termination settlement of around $100 million (\u00a374m).<\/p>\n Horner\u2019s pay-out, billed as one of the largest in sport, therefore seems excessive at first glance. The 51-year-old was contracted through until at least 2030, suggesting a settlement figure of around \u00a340 million ($54m), or slightly more allowing for a golden handshake, would have been considered fair.<\/p>\n However, that fails to address other elements such as performance bonuses, commissions or other entitlements. Horner was also the director of a host of Red Bull\u2019s other F1-related businesses which no doubt played a role in driving up the asking price.<\/p>\n His pay-out is therefore significant but seemingly justified, especially when one considers the potential commission values involved given his involvement in commercial deals including the recent announcement with\u00a0Carlyle \u2013 a company that has over $400 billion (\u00a3295bn) worth of assets under management.<\/p>\n Want to be the first to know exclusive information from the F1 paddock? Join our\u00a0broadcast channel on WhatsApp<\/a>\u00a0to get the scoop on the latest developments from our team of accredited journalists.<\/p>\n