According to sources, Max Verstappen has signed the biggest deal in the F1 history with Red Bull and has extended his contract.
Max Verstappen has signed the biggest deal in the history of F1 with Red Bull. According to sources, the deal is worth €50 million per year for four more years.
However, Red Bull itself has made no official announcement about the deal. Yet a source has said that it has all been agreed. “Max is staying for a long time, maybe even five years extra. It also equates to a substantial financial rise, virtually doubling his money,” the source said.
Verstappen has been with the Milton-Keynes based team for a long time. In 2015, Verstappen began his F1 career with the Red Bull junior team Toro Rosso, now known as Alpha Tauri. In the very next season i.e. 2016, the Dutchman took a seat in the parent team – Red Bull.
After the championship, Max Verstappen gave his heart to Red Bull
Furthermore, Verstappen’s new deal with Red Bull does not come as a surprise as both the team principal and Verstappen have cited their willingness to stay together for much longer. The Dutchman’s current deal is set to run out at the end of 2023.
❗️🤝 Megadeal: Max Verstappen en Red Bull Racing akkoord over nieuw supercontract.
Wereldkampioen gaat naar verwachting voor vier of vijf jaar bijtekenen. Bronnen in Engeland spreken van grootste deal in F1-historie; ± 50 miljoen per jaar. #F1 ⬇️https://t.co/4N0sjWjkiz pic.twitter.com/7QvBvRo9Uq
— Erik van Haren (@ErikvHaren) March 2, 2022
Following his victory in 2021, Verstappen said that he loves his team and wishes to do this for 10 or 15 years together. “There is no reason to change, ever. I want to stay with them for the rest of my life and hope they let me,” he added.
Moreover, it is being claimed that the 24-year-old visited the factory in Milton-Keynes to finalise his contract with the team during pre-season testing in Barcelona.
The Dutchman will earn more than Lewis Hamilton
The new contract given to Verstappen will make him earn slightly more than the seven-time world champion. As per the projected salary, the Dutchman will take home approximately half a million more than Hamilton.
As Hamilton is at the twilight of his career, his current contract could be the last one while the 24-year-old Verstappen has just started.
Furthermore, earlier in the year, Red Bull team boss Christian Horner said that he hopes that Verstappen pens down a new deal with them. However, he insisted that their relationship is worth more than any piece of paper.
He said that relationships are not just about contracts. When Verstappen joined the team in 2016, he was just a boy now he is a man. He has grown with the team.