Christian Horner given eye-watering pay-off to exit Red Bull

Christian Horner has officially left Red Bull with what's believed to be an eye-watering, multimillion-pound pay-off.

While Red Bull has declined to confirm any details around the financial settlement between themselves and the former team principal, reports have suggested the figure could be anywhere from £52 million to more than £80 million.

The official departure comes after the 51-year-old was relieved of his 'operational duties' following the British Grand Prix in July of this year, over a year after his controversial 'sexting scandal' came to light.

He was due to be under contract with Red Bull until 2030, but would now be free to return to the sport as early as next year without competitor restriction.

Prior to being sacked in July, Horner oversaw the Red Bull Racing team for two decades, during which time they won eight drivers' titles and six constructors' titles.

Christian Horner has always denied the allegations (Rudy Carezzevoli/Getty Images)

In a statement, he described his tenure at the helm as 'an honour and a privilege', and paid homage to the 'most amazing group of talented and driven individuals' he worked with along the way.

"When we started in 2005, none of us could have imagined the journey ahead – the championships, the races, the people, the memories," he said. "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."

Horner continued: "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."

Geri has supported her husband publicly (Noam Galai/Formula 1 via Getty Images)

The decision to dismiss Horner came 17 months after a female colleague accused him of 'inappropriate behaviour', though he was twice exonerated of the claims by the Formula 1 team’s parent company, Red Bull GmbH.

An appeal against the initial investigation of Horner was thrown out last August as Red Bull added that 'its internal process has concluded'.

Within 24 hours of the grievance initially being dismissed in the February, hundreds of WhatsApp messages and a number of images allegedly exchanged between Horner and the woman who complained were leaked.

Horner has always denied the allegations against him and has continued to receive the public support of his wife, former Spice Girls singer Geri Halliwell-Horner.