Christian Horner will be able to return to Formula 1 as early as spring 2026 after finalising a payout with Red Bull, sources have told ESPN.
Former team boss and CEO Horner was "relieved of operational duties" by Red Bull GmbH, the parent company of the energy drinks brand, two days after July's British Grand Prix, ending a 20-year career with the team that started at its inception in F1.
Horner's sacking came as a surprise at the time -- he was under contract until 2030.
It is understood Horner has accepted a reduced payout from what the full contractual payout would have been, which allows him to return to F1 in any capacity next spring.
A source put the payout in the region of $100 million.
Under Horner's leadership, Red Bull won eight drivers' and six constructors' championships in two different periods of dominance.
On Monday, following the settlement, Red Bull confirmed he is no longer with the company.
A statement read: "Oracle Red Bull Racing announces today that Team Principal and CEO Christian Horner will leave the team."
Other sources had previously told ESPN Horner is keen to return to the world of Formula 1 as soon as possible.
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Before his sacking, Horner had been linked with Ferrari, but the Italian team has since extended team boss Fred Vasseur's contract.
Incoming F1 team Cadillac have also ruled out a move for him.
More recently Horner has been linked in reports to a potential consortium looking to invest in an ownership stake of the Alpine team.
"Leading Red Bull Racing has been an honour and privilege," Horner added in Red Bull's statement.
"When we started in 2005, none of us could have imagined the journey ahead -- the championships, the races, the people, the memories. 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 forever carry that with me."
Horner was sacked a year after keeping his role following an internal sexual misconduct investigation stemming from allegations from a former Red Bull Racing employee.
That only deepened the political rifts that followed late co-founder Dietrich Mateschitz's death in 2022.
Horner also had a much-publicised falling-out with Jos Verstappen, father of Max. The Verstappens are closely aligned with Red Bull adviser Helmut Marko.
Laurent Mekies has taken over from Horner at Red Bull, which just sealed back-to-back victories at the Italian and Azerbaijan grands prix.