Reigning F1 world champion Max Verstappen pens a new deal with Red Bull that will pay him in parity with Lewis Hamilton.
His new contract is believed to be one of the most lucrative deals in F1 history and will keep him with the F1 outfit past his 30th birthday.
In the aftermath of his win at the Yas Marina that sealed his F1 crown, Verstappen expressed his desire to stay with the team for the rest of his life. That prospect appears a step closer after the Dutchman agreed to a long-term contract with the team reportedly worth £40 million a year according to sources.
His new deal financially puts him in parity with the money made by Mercedes man Lewis Hamilton, whose current deal with the reigning Constructors’ champions runs until the end of 2023.
Verstappen visited the team’s factory in Milton Keynes to finish finalizing the deal after verbally committing to the terms during the three days of pre-season testing in Barcelona last week.
Given the reported length of the contract, Verstappen’s package with Red Bull represents the richest in the sport’s history.
Verstappen’s current deal was set to expire in 2023, but it was inevitable that Christian Horner and co were going to push hard to keep him after he ended Mercedes’ dominance at the top of his sport.
After making his debut aged 17 in the 2015 Australian Grand Prix for Toro Rosso, he gained promotion to drive for Red Bull the following year.
He progressed to finish third in the championship in both the 2019 and 2020 campaigns, before ending the dominance of the Silver Arrows who had claimed seven drivers’ titles in a row.
With new technical regulations being introduced this season to encourage more wheel-to-wheel racing, the Dutchman will have to be at his absolute best to retain his crown.
