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The reigning Formula 1 World Champion Max Verstappen has signed a five-year contract worth $55 million per year with Red Bull until the end of the 2028 season. Reportedly, the new deal will confirm that Verstappen will stay with the Bull for the next eight years. After winning the championship last year, Verstappen expressed his wish to stay at Red Bull for life.
Speaking of his new deal with Red Bull, Verstappen said that staying till the 2028 season was an easy decision. "I love this team, and last year's incredible performance was the testimony of the same." He added further that his association with the Bulls was always about winning the championships, taking the team to new heights, and bringing laurels. "We have successfully implemented our plans and executed them as well. We always hope to keep Red Bull at number one spot, and extension in our association will ensure the same," he said. Reportedly, Red Bull team principal Christian Horner added that Verstappen would be a vital part of the future, including a motivating factor as Red Bull plans to design and manufacture its engines from 2026 onwards.
Verstappen now has the most extended contract of any driver in Formula One with the new agreement. Lando Norris recently signed a deal with McLaren through to the end of 2025, and Charles Leclerc signed an agreement in 2019 to keep him at Ferrari until 2024. Hamilton's contract with Mercedes will last till the end of 2023, and George Russell, who joined Hamilton at Mercedes this year, is being lined up as the team's long-term prospect.
