Max Verstappen has signed a new £40M a year contract to remain Red Bull’s No.1 driver up until his 30th birthday. The 24-year old visited Milton Keynes earlier this week to seal the blockbuster deal. The Dutchman will now match rival Mercedes’ Lewis Hamilton as the top-earner in the sport.

A source close to the team revealed that talks had been underway for over a month. Verstappen’s manager Raymond Vermeulen reportedly met with advisor Helmut Marko in Austria last month. The source 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.”

This comes in the aftermath of the Dutchman’s maiden World Championship win in 2021 after a dramatic ending. Verstappen ended the 2021 season with 10 race wins and 10 pole positions edging rival Hamilton.

Hamilton, meanwhile, signed a two-year contract extension keeping him at Mercedes in 2022 and 2023. The contract extension is reportedly valued at $147 million, making the 7-time World Champion the highest earner in Formula 1.

Verstappen made his debut at the 2015 Australian Grand Prix for Toro Rosso. He became the youngest driver to start a Grand Prix at 17 years and 166 days. At 18, he won the 2016 Spanish Grand Prix on his Red Bull Racing debut, becoming the youngest-ever driver and the first Dutch driver to win a Formula One Grand Prix.

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Will Max Verstappen retain his World Championship this season?

After a dramatic end to the 2021 season, Verstappen has his work cut out as the new season draws near. The team participated in three days of testing at Barcelona in the new RB18. Red Bull will be wary of the fact that they may have new and tougher competition this season. The likes of Ferrari and McLaren have turned up impressively in 2022, adding to the challenge faced by the Bulls.

The Dutchman, with teammate Sergio Perez, was impressive throughout 2021. However, Mercedes will be eager to avenge the heartbreaking loss in Abu Dhabi. Verstappen will use the ‘No. 1’ this season after switching from ‘No. 33’ following his Championship win.

It is impossible to predict which team will have the upper hand this season. The teams will now undergo another round of testing in Bahrain, a week before the season opener on March 20.

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