Red Bull reveal cost of massive Sergio Perez crash in huge blow to budget cap

Sergio Perez’s Monaco Grand Prix collision with Kevin Magnussen could cost Red Bull north of £2m with the team now worried about its impact on their budget cap.

Perez’s vehicle was written off early in the opening lap of the Monte Carlo race after being struck from behind by Magnussen’s Haas.

Both drivers were thankfully unharmed in the incident, which also ended the race of Magnussen’s teammate Nico Hulkenberg.

The two men involved blamed each other for the coming together in the aftermath of the collision, though neither faced sanction.

And long-time Red Bull aide Helmut Marko has expressed his surprise at the race stewards’ handling of the situation as he revealed the possible costs to the team.

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

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

Magnussen has accumulated ten penalty points so far this season, leaving him at risk of a race ban if he receives two more.

The Danish driver defended his actions post-race in Monaco and insisted that there was a gap for him to go through.

“From my point of view, I had a good part of my front on Perez’s rear and when he went to the wall I got pushed to the wall and made contact with him,” Magnussen said.

“I trusted he was going to leave space for me since I was there. It’s not a corner where you’re braking into it, it’s a bend on the straight so you have to have a car otherwise you leave the other guy no option.

“From my point of view, I was there, and I got squeezed to the wall.”