Red Bull has confirmed reigning world champion Max Verstappen has signed a new contract to stay at the team until 2028.
The five-year extension is reported to be worth $55 million a year, moving Verstappen level with the figure that Lewis Hamilton is believed to earn at Mercedes.
After winning the championship last year, Verstappen said he wanted to stay at Red Bull for life and the new deal, which is in addition to Verstappen’s current Red Bull contract that runs until 2023, will see the 24-year-old remain at the team until he is 30.
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“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.”
Red Bull team principal Christian Horner said Verstappen would be a key part of the team going…
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