Formula One: Max Verstappen signs deal with Red Bull until 2028

Formula 1 world champion Max Verstappen has signed a contract extension that commits him to Oracle Red Bull Racing for the next seven seasons.

The deal, which is reported to be worth £40m a year, is a five-year extension to his current agreement and takes him to the end of the 2028 campaign.

“I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision,” said Verstappen.

“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 number one on the car long-term.”

The Dutchman won his maiden F1 title last year, pipping seven-time champion Lewis Hamilton in a hugely controversial final race in Abu Dhabi. Verstappen is due to begin his defence later this month in Bahrain.

“To have Max signed with Oracle Red Bull Racing through to the end of 2028 is a real statement of intent,” said team principal and chief executive Christian Horner.

“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.”

Verstappen’s new deal puts him on the same reported salary as Mercedes rival Hamilton, whose current deals runs until 2023.

The contract extension follows two major new commercial deals for the team, including a title sponsorship with Oracle worth more than £100m a season.

The fallout from Verstappen’s acrimonious win in Abu Dhabi led to F1 chiefs replacing Michael Masi as race director for the 2022 season.