It is thought that a shift in the shareholding of Red Bull's parent company may have cleared the way for Christian Horner's shock sacking.

In the aftermath of news breaking of the scandal that ultimately led to Horner's downfall at Red Bull, it was clear the Austrian side of the company, and Jos Verstappen, wanted him out.

However, Horner was able to rely on the support of Chaleo Yoovidhya, the original co-founder, along with Dietrich Mateschitz of the Red Bull company.

Mateschitz and Yoovidhya both held 49% of Red Bull GmbH, while Yoovidhya's son, Chalerm, held the all-important 2% that decided who had control.

According to Motorsportweek.com, documents filed in Austria have revealed that earlier this year Chalerm gave up his 2% stake which was subsequently bought by a Swiss investment company Fides Trustees.

The power had shifted, thereby allowing the Austrian faction, which had long been unhappy with Horner's growing influence within all areas of the F1 team, not to mention the fact that the outfit, to all intents and purposes, was oriented towards Britain and not Austria, to finally rid itself of the man who could no longer rely on the protection of Yoovidhya.

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READERS COMMENTS

1. Posted by kenji, 11 hours ago

"@Ricardo-sanchez - Thanks for the timely response. Without actually viewing the entire 'cache' it is difficult to put it all into context. My understanding is that Red Bull, firstly, undertook an internal legal examination that returned a 'no case to answer' result. This was immediately challenged by the release of the 'cache' by an,as yet, unidentified actor! It was in response to that event that Red Bull undertook a second investigation by an distinguished external KC. The new investigator would've had access to the 'cache' otherwise why investigate the same old same old? This new look at the evidence came to the same conclusion as that of the in house legal result. 'No case to answer'. With a court challenge due to be heard sometime early next year CH deserves to be ' presumed innocent' until that avenue is exhausted by a finding, one way or another.
Horner's removal may well be linked to this 'text' scandal in totality or at least in part but there are big stakes and reputations on the line here which makes it all the more intriguing. Ultimately it could possibly be a simple office liason gone horribly wrong or it could be sleazy power politics sans morality at play."

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2. Posted by Ricardo_sanchez, 20 hours ago

"@Kenji - The photos I’m referring to formed part of the leaked cache that was made publicly available via a Google Drive link at the time. This included WhatsApp screenshots and photographs sent as part of those exchanges.

The key point is that the photos add evidential weight: they appear to be images taken from Horner’s perspective, at events and locations he attended, and are consistent with the personal tone and context of the WhatsApp chat thread in which they appear.

Taken together - if genuine - this material suggests a relationship that went well beyond what one would expect between a manager and a subordinate. That’s why it’s relevant: not because of any salacious content, but because it corroborates the nature of the alleged relationship itself. "

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3. Posted by kenji, 22 hours ago

"@Ricardo-sanchez. this explosive issue has been dubbed the 'sex text' scandal and subsequently when someone admits to having seen 'photos' alongside text messages it is natural to assume that the photos were of a sexual nature...no? What other interpretation could there be ? How do non sexual images feature as added support to the original allegations? The scandal has been billed to also embrace 'coercive behaviour. Maybe you can explain how it was possible for you to view that material in the first instance. I can't seem to find anything at all....."

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4. Posted by Ricardo_sanchez, 15/07/2025 11:32

"@kenji - It is worth clarifying that the leaked photos I’ve seen aren’t really the salacious or explicit material some appear to assume. However, they add evidential weight to the complainant’s broader claims.

This is not really about individual images being scrutinised in isolation. The material leaked consisted of messages, screenshots and photos that together, if authentic, point to interactions that were clearly beyond what one would expect between a team principal and a personal assistant.

Of course, what people get up to in their private life is entirely their own business. But when a relationship between colleagues goes wrong - for whatever reason - it can have a destabilising effect on the organisation. "

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5. Posted by kenji, 15/07/2025 3:25

"@ Editor and Chester.....Like others I was unaware that photos were part of the alleged evidence! Even so pics as we know can be digitally altered besides the legal opinions would've encompassed those aspects, yet, to the best of my knowledge, that didn't happen."

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6. Posted by Ricardo_sanchez, 14/07/2025 19:38

"@chester @editor

It’s not really a question of being ‘interested in such stuff.’ Leadership behaviour, especially when it creates reputational and organisational risk, is obviously relevant.

It is not merely a private matter or unseemly gossip when it impacts a whole team. If the leaked material is genuine, it potentially explains why Red Bull acted and why key people like Newey departed.
"

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7. Posted by Editor, 14/07/2025 18:56

"@ Chester

That makes two of us."

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8. Posted by Chester, 14/07/2025 17:08

"@ricardo_sanchez. I guess I missed the leaked photos. Maybe because I am not interested in such stuff, or maybe because I have not read clearly enough, I did not know there were photos that could be leaked and that were leaked.

"

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9. Posted by Spindoctor, 14/07/2025 14:49

"It's a tragedy - no, sorry, that's the Bee Gees... But seriously folks it's a full-on Shakespearian Tragedy: Sex, Politics & Corporate murder!"

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10. Posted by kenji, 14/07/2025 14:28

"This latest revelation re voting control doesn't, as yet, make a great deal of sense. With Austria holding 49% and Yoovidhya holding 49% plus a further package of 2% which gave the Thais control. The 2% was sold on wasn't necessary, if the Thais agreed [ with Austria ]to rid them selves of Horner. If the Thais decided not to proceed then the 2% needed to add to the Austrians parcel for control meant that they would've had to convince the 'Fides Trustees' to support their actions. Who are "Fides Trustees' and why did the Thais sell the 2% on in the first instance? I doubt that they need extra pocket money! Getting murky......"

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11. Posted by ffracer, 14/07/2025 0:42

"@Editor: hahaha, that was well deserved. My post was hasty to the point of being horrible. In truth, I couldn't see my entire post before submitting and then cringed when I read it lol.

What I should have written was that there are so many theories being posted but that your article- explaining the acquired 2% shares giving the Austrian faction of RB majority- is what other credible sources are now also reporting as giving the board the ability to execute. Well done once again Pitpass.

The other vital events - the Jos/ Christian and other RB personnel fight at Silverstone and the Verstappen/Wolff yachts sighting soon after would have forced RB to act immediately if they still have a chance to keep Max."

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12. Posted by Editor, 13/07/2025 15:29

"@ ffracer

So the Pitpass story is correct...

What, as opposed to us posting something that is incorrect? "

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13. Posted by ffracer, 13/07/2025 15:12

"So the Pitpass story is correct. We didn't know how much true influence Jos Verstappen had... The additional 2% gave the Marko/Austrian RB faction gave the executioner executioner and the screaming match between Horner and Jos the Boss, together with the Max faction/Toto Wolff Sardinia yachts sighting and Jos' call to RB Austria, finally swung the axe on Horner's neck, to stop all the bad decisions costing the team so much money, and in a last ditch effort to keep Max and show more loyalty. "

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14. Posted by mds167, 13/07/2025 13:27

"If the case makes it to tribunal then the judge's decision will be made public and should make for some interesting reading (and chum for media sharks)."

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15. Posted by Ricardo_sanchez, 13/07/2025 9:05

"@Kenji - lawyers, even senior KCs, act within the scope and on instructions they are given. Their opinions are only as broad as their brief, and they caveat advice accordingly (‘based on the information provided at the time’).

Maybe the KC enquiries operated within narrowly defined terms of reference, influenced by Horner’s seniority and shaped by the marketing and comms managers, who are now also on garden leave.

If Red Bull has now reassessed the evidence and concluded they cannot realistically defend the case at tribunal, they will need to settle. But if, as has been reported, the complainant has refused prior settlement offers because she is seeking an admission of liability, then Red Bull would have to go down that route to avoid a public hearing.

That in itself would put Horner in an untenable position. How could he remain team principal if the company admitted liability for his conduct?"

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Did control shift at Red Bull GmbH spark Horner firing?

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