Max Verstappen signed a new contract with Red Bull that will keep him with the company until the end of the century.
The team said that the new contract was in addition to his existing one.
Verstappen said that last year was simply incredible.
We have accomplished our goal of winning the championship since we came together. Keeping the number one on the car is important.
The new contract is said to be worth 40-50 million dollars a year, which would make it the most lucrative in F1 history.
It is said that Lewis Hamilton will make about 40 million dollars from Mercedes before his endorsements are taken into account.
To have Max signed with Red Bull Racing through to the end of 2028 is a real statement of intent according to Red Bull team principal Christian Horner.
Our immediate focus is on retaining Max's world championship title, but this deal shows he is a part of the team's long-term planning.
The departure of Honda from F1 will lead to a new era for Red Bull.
Red Bull took over the intellectual property for the engine and set up their own division on their campus.
The original plan had been for Red Bull to take over the manufacture of the engines from 2023 but motorsport adviser Helmut Marko said in an interview earlier this year that the engines would continue to come from Honda's R&D base in Japan until 2025, after which a new engine-design formula will come into force in F1.
Red Bull would have to build its own engines for the new era, when the engines will feature a greater proportion of their power from hybrid energy, and use fully sustainable, probably synthetic, fuels.
The Volkswagen Group is expected to enter F1 with either of its brands, and Red Bull has been linked with them.
With the Red Bull Powertrains division working towards the new engine regulations in 2026, we wanted to make sure we had the best driver on the grid secured for that car.
The trend for leading drivers in F1 to commit their futures to single teams for a long period is a continuation of Verstappen's deal.
Hamilton has been at Mercedes. Two years ago, Charles Leclerc signed for Ferrari. Lando Norris committed to McLaren until the end of 25 years.
The best way to achieve success is to create a stable environment and improve working practices around a known and respected driver quantity.
Hamilton overtook the German as the most successful driver in F1 history.
All Rights Reserved © 2024
