Reigning World Champion Max Verstappen has committed his long-term future to Red Bull by signing a new contract running until 2028.
The deal is reported to be worth in the region of €40-50m (£33-42m) which would move him close to the figure Lewis Hamilton makes at Mercedes and make him one of the best paid drivers on the grid.
After signing the extension, Verstappen said it was “about keeping the number one on the car long-term.”
“I really enjoy being part of the 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.”
His boss, Red Bull team principal Christian Horner described it as a “statement of intent.”
“To have Max signed with 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.”
— Oracle Red Bull Racing (@redbullracing) March 3, 2022
Verstappen joined Red Bull in 2016 having come through the team’s young drivers programme.
After making his F1 debut with Red Bull’s junior team, Toro Rosso, in 2015, Verstappen made the move to the senior side ahead of the Spanish Grand Prix.
Immediately he showed why he was so highly rated as he won the race in Barcelona, making him the youngest winner ever of a grand prix at 18 years and 228 days old.
Since then, the 24-year-old has gone on to win 20 races and finish on the podium 60 times.
In 2021, he became the first non-Mercedes driver to win the Drivers Championship in eight years after a season-long battle with seven-time champion Lewis Hamilton.
Verstappen, son of ex-F1 driver Jos Verstappen, is now preparing to retain his World title as the sport heads into a new era. The Dutchman has elected to race with the number one on his car, a privilege reserved for the reigning champion, and he joins a list of young drivers in the sport committing their future to their teams.
In 2020, Charles Leclerc signed for Ferrari until the end of 2025 and last month, Lando Norris committed to McLaren until the end of 2025.
Verstappen signs mega contract extension
Max Verstappen has signed a contract extension until the end of 2028.