His salary is reportedly increasing to $55 million per year.
Max Verstappen is rumored to have signed a contract extension with the Red Bull Formula 1 team. No surprises here, as we were expecting Verstappen to stick with the team that helped him win his first world championship beyond his current contract, which expires at the end of 2023.
According to the Dutch newspaper, De Telegraaf (The Telegraph), his new deal is worth 50 million euros per season. That's roughly $55.5 million per year, putting him on par with Lewis Hamilton. Verstappen will also be racing with the coveted Number 1 on his car, matched with a rather fetching gold helmet. It's good to be the king.
Hamilton's contract with Mercedes also expires at the end of 2023, though there has been no news of contract extensions from the British driver's side.
Verstappen has been very open about his love for the Red Bull team. He made his intentions clear during media interviews following his controversial world championship win last year.
"I think they know I love them. And I hope we can do this for ten to 15 years together. There's no reason to change ever. I want to stay with them for the rest of my life," said Verstappen.
And why would he not? He's in the same position as Lewis Hamilton. They're arguably the best drivers on the grid, both racing in top-tier cars. They also enjoy number one driver status, a lovely space to occupy.
Verstappen has been a part of the Red Bull machine since the beginning of his career. He made his F1 debut in a Toro Rosso, now known as Scuderia AlphaTauri. The smaller team, also owned by Red Bull, is essentially a preparatory school for the big leagues.
Speaking of teammates, Sergio Perez's contract with Red Bull runs out at the end of this year. Before the Abu Dhabi Grand Prix, we assumed that Pierre Gasly would replace the aging Mexican driver, but after his performance at the season-ender, we're not so sure. Suffice to say that Perez deserved a brand-new Acura NSX as a bonus, paid for by Christian Horner.
Red Bull currently has a cracking team, but they'll have to do something as Gasly will likely not hang around for too long if he doesn't get another shot in a Red Bull.
You can watch all the drama from last season unfold on Netflix's Drive to Survive, which will not feature one-on-one interviews with Max Verstappen, who opted out of the famous series for fear of being cast as the villain.
Instead, Viaplay has given Verstappen his own documentary titled Verstappen - Lion Unleashed. No release date has been set.
Whether Verstappen is worth the same amount of money, the answer is yes. Thanks to Liberty Media's coverage, F1's viewership figures have never been bigger.
And let's be honest for a second. The epic (seemingly personal) battle between Lewis Hamilton and Max Verstappen is F1's main drawing card at the moment.
Whether it will last is up for debate, but the $111 million the two drivers cost is small change from an entertainment standpoint.
If you were wondering, Max Verstappen currently has a net worth of roughly $60 million, which is cute compared to Lewis Hamilton's reported net worth of $300 million.