Max Verstappen agrees long-term £40m-a-year Red Bull contract to move on financial par with Lewis Hamilton – reports

Max Verstappen has signed a new long-term contract at Red Bull with an official announcement expected later in the week, multiple outlets are reporting. The world champion’s current deal expires at the end of the 2023 season, and Netherlands newspaper De Telegraaf report the new contract will be for an additional four or five years. Ad/> That would take the 24-year-old close to or past his 30th birthday, a signal of intent from Red Bull as Verstappen prepares to defend his title this year.

Formula 1'I will not go' – Vettel, Verstappen call for Russian GP to be scrapped after Ukraine invasion24/02/2022 AT 12:52 Verstappen is said to have agreed to the terms during last week’s pre-season testing in Barcelona before discussing the finer details at the team’s factory in Milton Keynes on Tuesday. The reported £40m-a-year deal would put Verstappen on a financial par with rival Lewis Hamilton, whom he dramatically beat in a controversial finale at the Abu Dhabi Grand Prix in December. One source told Daily Mail: “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.” FIA says Russian drivers can continue to race in F1 — but in a neutral capacity 'A good indication' — Hamilton and Russell top timing sheets on Day 3 of Barcelona testing Verstappen: Masi 'thrown under the bus' after losing race director role The deal would be one of the most lucrative in the sport’s history. Seven-time world champion Hamilton signed a two-year deal in 2021 with Mercedes that is reportedly worth £40m per year.