HomeSportsF1 NewsVerstappen tipped for lucrative new Red Bull F1 deal · Biznewz

Verstappen tipped for lucrative new Red Bull F1 deal · Biznewz

Max Verstappen has agreed a profitable new deal to proceed racing for Red Bull in Formula 1, in keeping with media reviews within the Netherlands.

De Telegraaf reports the world champion is poised to commit his future to the staff in a deal value as much as £41.6 million (€50m) per 12 months.

Verstappen’s present Red Bull deal, which was introduced at the start of 2020, retains him on the staff till the top of the 2023 F1 season.

A contract extension could be a big vote of confidence by Verstappen in Red Bull’s plans for the longer term. Its engine provider Honda formally withdrew from F1 on the finish of final 12 months. Red Bull is taking up the the manufacturing of its energy items at a brand new powertrains facility in its Milton Keynes base, and can be believed to be courting curiosity from Volkswagen for a future engine provide.

Red Bull signed two main sponsorship offers for the brand new season following Verstappen’s championship victory final 12 months. New title sponsor Oracle and cryptocurrency Bybit have vital presences on the automobile. The offers have been reported to be value £225 million ($300m) and $112m ($150m) respectively.

Verstappen was signed to the staff’s junior driver programme in 2014 and swiftly made his F1 debut in a observe session with Toro Rosso at that 12 months’s Japanese Grand Prix. He raced for the staff the next 12 months, and was promoted to Red Bull 5 races in 2016, inflicting a sensation by successful his first race for the staff in Spain.

He has remained on the staff ever since, whereas a succession of drivers have departed the seat alongside him. Daniel Ricciardo walked out of the staff on the finish of 2018, his substitute Pierre Gasly lasted simply 9 races, and Alexander Albon was dropped after a disappointing 2020 marketing campaign.

Sergio Perez joined as Verstappen’s staff mate final 12 months, and saved his place alongside him for the upcoming season.

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