As reported yesterday, Max Verstappen has inked a long-term deal with Red Bull which will see him with the team until the end of 2028 with a hefty $50-million per annum retainer.
That means that the reigning F1 World Champion will be 30-years old when it comes to extending or departing the team in six years’ time.
While Red Bull and the driver are unlikely to reveal financial details of the extension deal, word from several sources is that the Dutch ace will be banking around $40-million a year as a retainer from the team, which will put his earnings in the Lewis Hamilton mega-bucks league.
Add to that Verstappen’s own extensive personal sponsor portfolio ensures that the 24-year-old leaves the sport a very rich man, and until then he will want for nothing.
The new five-year extension runs until the end of 2028 and is in addition to the original deal that covered the 2023 season.
Red Bull confirmed today in a statement released today: “After winning his maiden Formula 1 World Championship title in 2021, Max Verstappen has signed a long-term contract extension that will keep the 24-year-old Dutch driver with the Oracle Red Bull Racing Team, exclusively, until the end of 2028.”
Speaking about the new five-year deal, Max 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 Racing CEO and Team Principal Christian 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.,” added Horner.
Loading …MV1 ? 2028 ? The World Champion is staying right here ? @Max33Verstappen ?? #GivesYouWings
— Oracle Red Bull Racing (@redbullracing) March 3, 2022