RED BULL have confirmed that Max Verstappen has signed a contract extension and revealed he will stay with the team until 2028.
The Dutchman already has a contract with Red Bull in place until 2023 which is worth £18million-a-year.
Max Verstappen has penned a lucrative new deal
However, his extension, which runs until 2028 is valued at a staggering £37million-a-year.
That takes his total contract up to a mind boggling £221million over seven years – the biggest driver contract in F1 history.
Verstappen, 24, who won the F1 title last season albeit in controversial circumstances in Abu Dhabi, said: “I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision.
“I love this team and last year was simply incredible, our goal since we came together in 2016 was to win the championship and we have done that, so now it’s about keeping the number one on the car long-term.”
Red Bull boss Christian Horner said the new long-term deal shows the team’s commitment to Verstappen.
Verstappen will kick off his title defence later this month in Bahrain with the first race of the season on March 20th.
It marks a new era for F1 with dramatic new regulations relating to the car designs while Red Bull are also developing their own engine department.
Horner added: “To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent.
“Our immediate focus is on retaining Max’s World Championship title, but this deal also shows he is a part of the team’s long-term planning.
“With the Red Bull Powertrains division working towards the new engine regulations for 2026 we wanted to make sure we had the best driver on the grid secured for that car.”
Following the announcement, Verstappen tweeted: “Really proud to announce that @redbullracing will be my home until at least 2028.
“I love this team and I am very happy to continue this amazing journey we are on for a long time.
“We have accomplished so much together already but we are definitely not done.
”
Verstappen, 24, has committed his future to Red Bull
Did you miss our previous article…
https://www.sportingexcitement.com/formula-1/ex-f1-chief-ecclestone-shockingly-defends-putin-amid-ukraine-invasion-calling-russia-president-honourable-person/
