Max Verstappen has reportedly agreed a new long-term contract at Red Bull worth up to €50million ($55m) per year.
Dutch newspaper De Telegraaf reports the 2021 world champion has agreed terms on a new deal to exceed his previous contract that was due to run out at the end of next season, extending his stay with Red Bull until at least 2026.
Verstappen has been in talks with Red Bull for some time, with the team keen to tie him down to a longer-term contract, and after his title success in Abu Dhabi last year he stated: “I hope we can do this for 10-15 years together.
“There’s no reason to change ever. I want to stay with them for the rest of my life. I hope they let me.”
The report states that the deal has been agreed at this stage and is set to be signed soon, with the figure quoted one that would make him one of the highest-paid Formula 1 drivers in history, and the top earner alongside Lewis Hamilton on the current grid.
Red Bull has enjoyed an influx of major sponsorship deals in the first quarter of 2022, announcing lucrative partnerships with title sponsor Oracle and crypto company Bybit that run for a number of years.
Red Bull declined to comment on the report when approached by RACER.