Red Bull reveals price of Perez’s frightening accident at the Monaco Grand Prix.

The RB20 from Sergio Perez’s Red Bull Racing was removed by track officials after an accident at the start of the race at the Monaco Grand Prix. The incident, which occurred on May 26, 2024, during the eighth round of the Formula 1 World Championship, caused significant damage to the team and is estimated to have cost them around two to three million dollars, according to Red Bull advisor Helmut Marko. Perez was trying to recover from a poor qualifying session, where he posted the slowest time in 18th place and was eliminated in the first segment. However, his race was cut short when Kevin Magnussen’s overtaking attempt resulted in a collision that sent Perez’s car spinning towards the barrier. The incident also involved Nico Hulkenberg’s sister, Haas. Fortunately, Perez emerged unscathed from the accident, but the financial impact on Red Bull is substantial, especially considering the budget cap in place. Marko expressed concern about Magnussen’s involvement in another accident and called the collision dangerous. Perez, on the other hand, was surprised that the stewards did not investigate further and believed Magnussen should have backed off. Red Bull team principal Christian Horner emphasized the importance of driver safety and praised the effectiveness of the car’s structure and safety features. Although the exact cost of the damage was not disclosed, Horner acknowledged that it was a significant accident with a high financial cost.