Red Bull has announced that Max Verstappen will remain with the team until 2028 after signing a new deal reportedly worth £40m per year.
The reigning world champion has been with Red Bull since the early part of the 2016 season, winning on his debut with the team at the Spanish Grand Prix that year.
Since then, the Dutch driver has added another 19 victories to his tally and a world title in his most recent race, securing the 2021 crown in the dramatic finale in Abu Dhabi last season.
After winning the title at Yas Marina, an emotional Verstappen said he wanted to continue with the team for another “10-15 years,”. His new deal will make him the joint-highest paid driver on the grid alongside rival Lewis Hamilton.
“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.”
Verstappen’s old deal took him to the end of the 2023 F1 season with the team. Speculation had previously linked him with Mercedes in place of Hamilton, who’s contract also expires at the end of ’23.
Should Verstappen see out the entire length of his new contract with Red Bull, it would be one of the longest team/driver partnerships in Formula 1 history.
“To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent,” team principal Christian Horner said of the deal.
“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.”