Formula 1 world champion Max Verstappen is on the verge of putting pen to paper on a new multi-million-pound long-term contract with Red Bull.
Verstappen is set to get the defence of his inaugural world title underway at the season-opening Bahrain Grand Prix in two-and-a-half weeks’ time.
And the 24-year-old is set to commit his future to the team on a deal set to put him on a par with his main anticipated title rival in Lewis Hamilton.
Reports in the Daily Mail suggest Verstappen will sign a deal worth £40million a season that would take him beyond his 30th birthday.
A source involved in the talks told the Mail: “It has all been agreed. Max is staying for a long time, maybe even five years extra. It also equates to a substantial financial rise, virtually doubling his money.”
Verstappen had been courted by Mercedes as a potential long-term successor to Hamilton but has opted to stay with the Red Bull team with whom he has driven since 2016, having previously spent a season with Scuderia Toro Rosso.
The Dutchman already has a deal to stay with Red Bull until the end of 2023 and recently said: “I’m very, very happy where I am, that’s for sure. There is no reason to leave here and I want to continue racing for this team for a long time.”
