Christian Horner has officially left Red Bull after his sacking as team principal in July, the Formula One racing team says in a statement.

Horner, who led Red Bull to eight drivers titles and six constructors crowns, reportedly agreed a huge payoff with the team, which announced his departure on Monday.

The 51-year-old’s contract, which had been due to run until 2030, has now concluded, and he will be free to return to the sport, potentially as soon as next year.

Media reports in Britain suggested Horner will receive up to $107m in the payoff.

A Red Bull Racing statement read: “Oracle Red Bull Racing announces today that team principal and CEO Christian Horner will leave the team today.”

Horner said leading the team had been an “honour and privilege”.

“When we started in 2005, non

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