Verstappen close to new F1 contract – No sooner have the tests for the upcoming Formula 1 season begun than the first hot speculations about the drivers in the paddock pop up. According to a recent media report from the Netherlands, the new world champion Max Verstappen is said to be close to extending his contract with Red Bull.
Verstappen’s current employment contract with his long-time partner Red Bull runs until mid-2023, and this contract is expected to be extended “soon” for the long term. This was reported by the Dutch daily newspaper “De Telegraaf”.
After winning his first driver’s world championship in Formula 1, both Max Verstappen and Red Bull had repeatedly emphasised that they wanted to extend their working relationship.
The F1 champion, who will start the new season with the starting number 1, is said to be willing to pay for the extension of his contract with the Austrian-British team.
Currently, the Dutchman is said to earn around 22 million euros per year. According to the newspaper report, the salary is to be adjusted to an annual salary of 26.5 million euros. In addition, there will be further bonus payments.
According to the source, the cooperation is to be extended in the long term. What exactly that means, however, has not yet been confirmed. Verstappen has been driving for Red Bull in Formula 1 since 2016
The concrete negotiations between the two parties are said to have been conducted between Verstappen manager Raymond Vermeulen on the one hand and Red Bull motorsport boss Dr Helmut Marko on the other. The 78-year-old from Graz is regarded as the discoverer and great supporter of Verstappen, who became Formula 1 world champion for the first time in a heart-stopping final with record champion Lewis Hamilton in Abu Dhabi in December.
Verstappen has driven continuously for the Milton Keynes-based team since his mid-season switch from Toro Rosso to Red Bull in 2016. Since then, he has contested 118 Grands Prix for Red Bull, claiming 20 victories in the process.
Last season, Verstappen set a new Formula 1 record by finishing on the podium 18 times in 21 races.
A mere formality.
certainly it seems all the young guns are pinning their flags long term, ever since Leclerc long contract
Verstappen is worth every Euro he gets. Wow, what a driver!!
It’s good news for all concerned as the media was going to throw that question to the team at dime stage and they would want to avoid having to speculate a continued contract with the current world champion in spite of how he got there.
Surely only a fool would sign long term if he wanted to be a champion again. Who knows what RB and their future is like. I would have waited to see how this season went. But then I am not a driver. And if I was I would want to win and not think about getting more money with a firm that may fall back to the old days again.