Red Bull Racing has announced today the renewal of their star driver Max Verstappen’s contract, which was coming to an end in 2023, for another five years. The current Formula 1 World Champion will defend the colours of the energy drink team until the end of 2028.
The extension was very much expected, especially after the Dutch racer’s conquest of the 2022 title. Its duration, however, much longer than is customary in Formula One, has come as a bit of a surprise.
Max Verstappen will be 30 years old by the time his professional relationship with Red Bull comes to an end. This agreement is a testimony of the level of trust between the athlete and his team, who would have been together for seven seasons by the end of 2028.
Although it remains to be confirmed, it has been suggested that the seven-year duration of Verstappen and Red Bull’s contractual relationship is the longest in the history of Formula 1. This new agreement (50 million dolars per year) will also make Max Verstappen the highest-paid driver on the grid, alongside Mercedes‘ Lewis Hamilton.
A joke turned into a new contract
After winning the crown in Abu Dhabi in 2021, the Dutchman joked about wanting to “continue in Red Bull for another ten or fifteen years“. Well, shortly after hearing those words, team adviser Helmut Marko got down to work.
Team principal, Christian Horner, has described the new agreement as a “true statement of intent”. And he is not without reason. This extension demonstrates his long-term commitment to the sport and places Max Verstappen as the axis of the team’s present and future in F1.
Also, having such a valuable asset tied down for the long term will make the team a very attractive customer for potential engine suppliers. In this respect, we know there are ongoing negotiations with the VW Group, which remains on the horizon to enter Formula One as an engine supplier with the arrival of their new era in 2026.
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