P1racenews AI automatic summary:
Max Verstappen has been coy regarding the rumour that he was paid an estimated $70 million as a result of
Red Bull recently announced that Max Verstappen, the reigning World Champion, has signed a long-term extension with the team, keeping him with the team until 2028. The five-year extension is worth $45 million per year, making Verstappen the highest-paid driver on the grid. His contract surpasses Lewis Hamilton’s reputed $35 million per year with Mercedes. This $10 million difference is due to Verstappen’s success on the track, recording 19 victories and 21 podiums in the past season. Verstappen’s points from the previous year would cost him €1.2 million to compete in 2024, but Red Bull has confirmed that they will cover the costs. Verstappen has expressed his potential to leave F1 after his contract expires but is not in a rush to make a decision and acknowledges that he may not replicate last year’s success in the future.
