F1 News: Red Bull Reveals Staggering Damage Costs After Sergio Perez's 'Dangerous' Monaco Crash

In a dramatic start to the Monaco Grand Prix, Sergio Perez's Red Bull RB20 was involved in a crash with Kevin Magnussen and Nico Hulkenberg, resulting in extensive damage and a staggering repair cost estimated between $2 million and $3 million. This incident will be a significant financial setback for Red Bull Racing amid a season where their dominance is being increasingly challenged by Ferrari and McLaren.

The collision not only led to substantial financial losses but also came at a critical moment in the championship race. Recently, Red Bull has watched Ferrari and McLaren close in on their lead, with both teams securing impressive finishes in the latest races. Perez's retirement from the race, which he started from sixteenth position in, saw him move from third place to fifth in the Drivers' Standings.

Red Bull's technical team has identified that the Monaco GP exposed specific vulnerabilities in their setup, particularly in slow-speed corners — an area where counterparts like McLaren have made notable advancements. Despite introducing new upgrades at the Imole race, Red Bull’s modifications have not delivered in comparison to the enhancements seen in their rivals' cars, particularly Ferrari and McLaren, who both claimed two wins in the last three races.

Red Bull motorsport advisor Helmut Marko shared his discontent with the race stewards' handling of the incident and its aftermath whilst in conversation with Sky Germany, as quoted by Formu1a.uno:

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

“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.”