Red Bull has confirmed Max Verstappen will remain with the team until the end of the 2020 Formula 1 season, ending speculation regarding his future.

Having joined Red Bull from junior team Toro Rosso mid-way through 2016, Verstappen has quickly established himself as one of F1’s hottest prospects. Today’s announcement ends speculation regarding his future with the team – with reports linking him with moves to Ferrari or Mercedes a common occurrence.

“Red Bull has always shown their faith and belief in me with actions; inviting me in to the young driver programme as a 16-year-old, then giving me my start in Formula One when I was just 17, and then the opportunity to race with Red Bull Racing where I had such a dream start with this team,’’ Verstappen said.

“They have always backed me and my ambition and I know we share that ambition. Their support, from the guys and girls in the factory through to the crew in the garage, no matter what plays out on the race track, has always been 100 per cent. We’ve also had some fun times! I’m very happy to commit further to Red Bull Racing and I’m looking forward to working together to enjoy more success in the years to come.”

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Team boss Christian Horner outlined the team’s hope of winning its first world championship since 2013 with Verstappen.

“We are delighted that Max has agreed to extend his contract with Red Bull Racing. We had a phenomenal start together in Spain last year and Max has only pushed on from there. It was a great moment for the whole team to see him put the frustrations of this season behind him in taking that fantastic victory in Malaysia last month.

“He is pure racer, with an undeniable talent at the wheel and a rare instinct for what it takes to compete consistently at this level. Coupled with a committed work ethic and a mature approach to learning his craft that belies his years, Max is right to be hungry for success and we are looking forward to extending that journey with him in our hunt for Formula One World Championships. As we now look to the long term with Max he is in the best place in the sport to build a team around him to deliver our shared ambition.”