Photo: Red Bull Honda Formula 1 Team
Max Verstappen, the reigning Formula 1 World Champion, has reportedly signed a new contract with Red Bull. While the information is yet to be confirmed, it is claimed that Verstappen has agreed to a multi-year deal that will bring him a cool GBP 40 million (ca. $53 million) per year.
While sensitive financial information such as this is kept under wraps, it is claimed that Lewis Hamilton also makes about the same amount of money from his contract with the Mercedes-AMG F1 Team.
Max Verstappen's contract was due to expire in late 2023, at the end of the season, but it appears that the latest Formula 1 World Champion signed an extension with his current team.
Currently 24 years old, Max Verstappen is claimed to have signed a deal that would have him with the team "close or past" his 30th birthday. At least, that is the information provided by the Dutch at De Telegraaf, and the same source has told that the deal was proposed to the driver last week, during the pre-season testing session in Barcelona.
Allegedly, the deal was signed this week in Milton Keynes, at Red Bull Formula 1 Team's headquarters. Another source told the Brits at Daily Mail that the new contract signed by Max has "virtually doubled his money."
Back in 2021, Lewis Hamilton signed a deal that was set to be valid for the 2022 and 2023 seasons of Formula 1, which had a reported salary of GBP 40 million (ca. $53 million at today's rates – rounded down, we'll keep the change, thank you!). Unlike Lewis's deal, Max's new contract is allegedly good for somewhere between four and six years.
Verstappen is significantly younger than Hamilton, so he might end up making even more money than the Brit if he manages to stay in the sport and be competitive up to Lewis' current age. Vegan diet, anyone?
At this point, it is important to point out that the information presented by various media reports on Max Verstappen's contract might not be entirely accurate. The Dutch racing driver may get more money than rumors claim, or significantly less, and, as far as we know, his contract might end after the 2023 season finale.
Allegedly, an official announcement would confirm the deal later this week, so, if that does not happen, Max's contract is unchanged. The new deal would bring the Dutch racer on par with Lewis Hamilton when salary is concerned. Do not worry, as Max was not exactly poor before this alleged deal.
Some claim it is the highest-paying driver deal in the history of the sport, but that is also something that cannot be verified at this time. Due to confidentiality clauses in these contracts, we might never know the truth for years.
Update March 3, 2022: Red Bull and Max Verstappen have confirmed signing a five-year extension of their contract. Max Verstappen is set to race with Red Bull up until the end of 2028.
Max Verstappen's contract was due to expire in late 2023, at the end of the season, but it appears that the latest Formula 1 World Champion signed an extension with his current team.
Currently 24 years old, Max Verstappen is claimed to have signed a deal that would have him with the team "close or past" his 30th birthday. At least, that is the information provided by the Dutch at De Telegraaf, and the same source has told that the deal was proposed to the driver last week, during the pre-season testing session in Barcelona.
Allegedly, the deal was signed this week in Milton Keynes, at Red Bull Formula 1 Team's headquarters. Another source told the Brits at Daily Mail that the new contract signed by Max has "virtually doubled his money."
Back in 2021, Lewis Hamilton signed a deal that was set to be valid for the 2022 and 2023 seasons of Formula 1, which had a reported salary of GBP 40 million (ca. $53 million at today's rates – rounded down, we'll keep the change, thank you!). Unlike Lewis's deal, Max's new contract is allegedly good for somewhere between four and six years.
Verstappen is significantly younger than Hamilton, so he might end up making even more money than the Brit if he manages to stay in the sport and be competitive up to Lewis' current age. Vegan diet, anyone?
At this point, it is important to point out that the information presented by various media reports on Max Verstappen's contract might not be entirely accurate. The Dutch racing driver may get more money than rumors claim, or significantly less, and, as far as we know, his contract might end after the 2023 season finale.
Allegedly, an official announcement would confirm the deal later this week, so, if that does not happen, Max's contract is unchanged. The new deal would bring the Dutch racer on par with Lewis Hamilton when salary is concerned. Do not worry, as Max was not exactly poor before this alleged deal.
Some claim it is the highest-paying driver deal in the history of the sport, but that is also something that cannot be verified at this time. Due to confidentiality clauses in these contracts, we might never know the truth for years.
Update March 3, 2022: Red Bull and Max Verstappen have confirmed signing a five-year extension of their contract. Max Verstappen is set to race with Red Bull up until the end of 2028.
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