Report: Max Verstappen Close to Agreeing On Contract Extension With Red Bull Amidst Promising F1 Future

Weeks back, Dr. Helmut Marko acknowledged that Red Bull Racing’s star driver, Max Verstappen, would most likely extend his contract with the team after the pair pulled off an emphatic championship victory in 2021. Well, it looks like the signing will happen soon and both parties seem happy to extend their partnership in Formula One.

Reports have claimed that Verstappen and Red Bull are close to agreeing on a new contract and the official announcement should arrive in the coming weeks. As of now, the one-time world champion’s contract runs out by the end of the 2023 F1 season.

About the new Max Verstappen contract

As expected, the Dutchman would be signing a multi-year deal with Red Bull Racing. What’s more, Verstappen will seemingly receive a massive salary hike, as the new deal is potentially worth millions of dollars.

Also, it is highly likely that his new contract will extend up to 2025 or maybe even further depending on his level of trust in the team’s ambitions amidst the new engine era in 2026.

Formula One F1 – Pre-Season Testing – Circuit de Barcelona-Catalunya, Barcelona, Spain – February 23, 2022 Red Bull’s Max Verstappen during testing REUTERS/Albert Gea

According to De Telegraaf, Raymond Vermeulen, manager of the Verstappens, is likely to have flown to Graz, Austria, prior to Barcelona winter testing for negotiations with Marko. Hence, Vermeulen, himself, refrained from commenting on Verstappen’s future when asked during the winter testing.

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Horner hoping Verstappen stays with Red Bull

Earlier this year, Red Bull F1 boss, Christian Horner, opened up that the team’s relationship with Verstappen is worth more than a piece of paper.

“Relationships, I think, are not about contracts, it’s exactly about relationships,” he said. “And Max, he came into the team as almost a boy and he’s grown into a young man, and he’s grown with the team. I think the relationship we share, the trust we share in each other, is worth more than any piece of paper.

Formula One F1 – Pre-Season Testing – Circuit de Barcelona-Catalunya, Barcelona, Spain – February 23, 2022 Red Bull’s Max Verstappen during testing REUTERS/Albert Gea

“I look forward to racing with Max for many years to come and I believe the best years are very much still to come.”

Overall, the Verstappen-Red Bull partnership is looking very much healthy with hardly any scuffles. Hence, rather straightforward contractual talks ahead before the pair eases into agreeing on a multi-year deal. So, when will the announcement arrive?

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