Christian Horner has cemented his status as the highest
paid F1 team principal, with Red Bull’s accounts revealing that he received an
11 per cent pay rise in 2023.
Red
Bull produced the most dominant season in history in F1 2023, winning
21 out of a possible 22 races as Max Verstappen,
with a record 19 victories to his name, eased to a third consecutive World
Championship.
Christian Horner lands big pay rise after Red Bull’s
record-breaking F1 2023 success
The team have struggled to hit the same heights in F1
2024, with Red Bull currently sitting third in the Constructors’ standings –
behind McLaren and Ferrari – ahead of the final three races in Las Vegas, Qatar
and Abu Dhabi.
Verstappen, however, took a giant leap towards a fourth
Drivers’ title by winning last weekend’s Brazilian Grand Prix – his first
victory since the Spanish GP on June 23 – to end his longest winless run since
the 2020 season.
The Dutch driver holds a 62-point advantage over
McLaren’s Lando Norris and could be crowned World Champion for the fourth time
in as many years when the F1 2024 season resumed in Vegas later this month.
Horner is the longest-serving team principal in F1, having
been appointed by Red Bull in 2005 and led the Milton Keynes-based outfit to
six Constructors’ and seven Drivers’ Championships to date.
And the latest published accounts for Red Bull Technology
Ltd have revealed that the company’s highest-paid director, believed to be
Horner, has been rewarded for the marque’s recent success with a pay rise of 11
per cent.
The boost has seen his salary rise from £8.04million in 2022
to £8.92m in 2023.
Meanwhile, accounts for Red Bull Racing Ltd have revealed
that Dr Helmut Marko was paid £7m in 2023, a significant increase from £3.5m
the previous year.
PlanetF1.com exclusively revealed in January that Marko had
signed a new three-year contract with parent company Red Bull GmbH.
Marko’s occupation in the Companies House documents is
‘hotelier’ with the 81-year-old known to own four luxury hotels in his hometown
of Graz, Austria.
Red Bull’s record-breaking success in F1 2023 resulting in
the company’s turnover rising 16 per cent to £446m, with shareholders – not
including Horner – landing a £50m dividend.
Mercedes team boss Toto Wolff is believed to earn a smaller salary (£6m) than Horner, but his status as a one-third owner of the Mercedes team saw him earn £25m in dividends in 2023.
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