P1racenews AI automatic summary:
Christian Horner’s biggest backer moved his shareholding in Red Bull in May.
A key ally of Christian Horner in Red Bull’s ownership structure transferred his stake in the company a month before Horner was sacked as team principal of the F1 outfit. Chalerm Yoovidhya moved his two per cent share to a Geneva-based trust company on May 20, as per Fortune and an Austrian regulatory filing. The Yoovidhya family, Thailand’s richest, still owns 49% of Red Bull, even after the transfer. Chalerm’s stake was part of the original ownership split between Dietrich Mateschitz and Chaleo Yoovidhya in 1984. The move’s reason and the trust’s beneficiaries weren’t revealed. Chalerm was seen as a key supporter of Horner during a recent internal power struggle, but reports now suggest his support has waned. With Horner’s dismissal confirmed, changes at Red Bull seem imminent according to Sky TV reports.
