F1 champion Max Verstappen ‘signs mega new Red Bull contract’ worth £40m a year

Max Verstappen has signed a huge new contract with Red Bull following his World Championship win that will see him rake in an estimated £40million-a-year.

The Dutchman became the fourth youngest F1 champion after his controversial win against Lewis Hamilton in Abu Dhabi, and Verstappen will now be one of the highest earners alongside the Mercedes driver.

The 24-year-old has already taken part in pre-season testing which took place in Barcelona last week, and it is thought that the bumper contract extension was verbally agreed when in Spain.

The new deal will see Verstappen stay at Red Bull beyond his 30th birthday, and it is set to be announced by the team within the coming days.

Verstappen will effectively double his money with the new deal, putting him right up there with the highest earners following his maiden World Championship success in December.

According to the Mail, the Dutchman visited the team's factory in Milton Keynes on Tuesday to complete the deal, after verbally committing to bumper terms during pre-season testing in Barcelona.

Verstappen's original deal took him up until 2023, but his new contract is a multi-year arrangement that will see him head into his 30's while at Red Bull, pocketing £40m-a-year.

Red Bull are yet to comment on the news, likely due to the fact that a formal announcement is yet to be made, but a source close to the talks said: "It has all been agreed. Max is staying for a long time, maybe even five years extra.

"It also equates to a substantial financial rise, virtually doubling his money."

The agreement comes after Dutch publication De Telegraaf reported that Verstappen's manager Raymond Vermeulen flew to Graz in Austria last month to meet Red Bull's motorsport adviser Helmut Marko.

Marko and team principal Christian Horner are fully backed by billionaire owner Dietrich Mateschitz, and keeping Verstappen to a long-term deal was their main priority.

Source: Read Full Article