Reigning Formula 1 world champion Max Verstappen will remain a Red Bull driver until at least 2028 after signing a new long-term deal.
Verstappen secured his maiden world championship last year after a final round decider in Abu Dhabi, becoming the first non-Mercedes driver to be crowned champion in the V6 hybrid era.
The Dutch driver has been a part of the Red Bull fold since his F1 debut for Toro Rosso in 2015, before earning a shock call-up to the senior outfit at the 2016 Spanish Grand Prix where he won on his first outing for Red Bull.
Reports on Wednesday claimed Verstappen was set to sign a bumper five-year deal worth around £40 million per year, making him one of the highest earners on the current grid.
Verstappen’s previous contract was set to run out at the end of 2023, but the new multi-year extension means he will stay at Red Bull through to the end of 2028.
“I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision,” Verstappen said.
“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.”
Verstappen’s new deal is believed to be among the most lucrative in F1 history, covering a whopping seven seasons.
Red Bull team principal Christian Horner said the contract extension was a sign of both the team and Verstappen’s commitment, as it looks towards achieving more success in the future.
“To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent,” Horner said.
“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.”
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