Red Bull suffer $2-3 million in damage costs from Perez crash

Jaden Diaz
27 May, 2024

Sergio Perez was out of the Monaco GP within metres, suffering terminal damage after an incident with Kevin Magnussen. In a race where Perez was unlikely to score points after qualifying, this incident is especially costly for Red Bull. An event where there was little to gain saw the reigning Champions lose plenty. Specifically, an estimated $2-3 million in repair costs are down the drain.

The last few events have been sub-optimal for Red Bull. Ferrari and McLaren have closed the performance gap, taking two victories in the last three races. This is reflected in the Championship standings, with the Prancing Horse now within touching distance of 1st place.

Monaco exposed the Austrian team’s weaknesses, which were largely covered by their dominance in 2023. In addition to this, McLaren has made more progress than anticipated in low-speed corners, making the Woking-based team a far more well-rounded car.

Red Bull, like Ferrari, introduced upgrades to Imola. However, they have failed to match the forward steps accomplished by rivals. The factory in Milton Keynes will need to double its efforts if they are to combat the huge strides made elsewhere in the paddock.

Perez (Red Bull)


Unfortunately for Christian Horner’s team, they incurred significant costs from Perez’s crash. Helmut Marko explained the extent of the damage costs:

“Am I surprised Magnussen wasn’t penalised? I’m actually surprised by how quickly the stewards managed to put the incident behind them,” he told Sky Germany.

“But first of all, it was very dangerous. And second of all, the damage to the RB20 is 2 or 3 million. This is a big handicap for us with the budget cap.”

Although some have criticised the F1 budget cap for limiting development, it has not stopped the likes of McLaren from making huge strides. If anything, the current regulations prioritise efficiency and innovation over brute force.

After establishing a significant advantage, Red Bull is starting to lose steam. Losing millions of its potential development budget on repairs certainly won’t help.

Therefore, with the Canadian GP just under two weeks away, the reigning Champions face their first true challenge since the beginning of this regulation cycle in 2022.




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