(Motorsport) Formula 1 team Red Bull have confirmed that reigning World Champion Max Verstappen has extended his contract with the team until the end of the 2028 season. The Dutchman joined Red Bull as a teenager in 2016 and won his first title last year. The contract extension means that Verstappen will now earn just over £40m a year, equal to seven time World Champion Lewis Hamilton.

Red Bull team principal Christian Horner said “To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent. Our immediate focus is on retaining Max's world championship title, but this deal also shows he is a part of the team's long-term planning. With the Red Bull Powertrains division working towards the new engine regulations for 2026 we wanted to make sure we had the best driver on the grid secured for that car." 

After signing the contract extension, Max Verstappen said “Choosing to stay until the 2028 season was an easy decision. I love this team and last year was simply incredible, our goal since we came together in 2016 was to win the championship and we have done that, so now it's about keeping the No 1 on the car long-term." 

Verstappen now has the longest Formula 1 contract on the grid and the Dutchman will be 31 by the time the contract ends. The Dutchman will begin his title defence on March 20th when the 2022 Formula 1 season begins at the Bahrain Grand Prix.

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