Sergio Perez’s Monaco GP crash will cost Red Bull up to $3 million

Red Bull advisor Helmut Marko has revealed that Sergio Perez’s race-ending crash at the Monaco Grand Prix will cost the team up to $3 million.

Perez was involved in a dramatic incident with Haas driver Kevin Magnussen on the opening lap of the race in Monte Carlo.

Magnussen attempted to overtake Perez on the exit of Turn 1, but the pair collided.

This sent Perez spinning into the path of the other Haas of Nico Hulkenberg, ending all three drivers’ races.

The incident resulted in the race being red-flagged and a nearby photographer was taken to hospital for checks due to the shower of debris from Perez’s car.

It marked a poor weekend for Red Bull as they saw their lead in the constructors’ championship cut down to just 24 points over Ferrari.

Speaking after the race, Marko confirmed that the shunt will cost the team up to $3 million.

"This is costing us about two to three million and with the budget cap that is of course a big handicap,” Marko told Sky Germany.

"It was another crash that Magnussen was involved in. Thank God it ended well, but it was a critical situation. I was surprised, though, how quickly the stewards dealt with the matter.

"These are decisions you can hardly influence, but it was just dangerous."

Red Bull boss Christian Horner was grateful Perez walked away from the incident unscathed.

"It was a horrible-looking accident, and of course, your heart is in your mouth, and at that point, the immediate focus is on the safety of the driver," Horner explained.

"Thankfully, cars can be fixed and the structure of the halo and everything did its job.

“The most important thing was that Checo was able to walk away from a very nasty accident unscathed."