Red Bull has confirmed reigning world champion Max Verstappen will remain at the team until 2028 after signing a new contract.
The five-year extension is reported to be worth $55 million a year, moving Verstappen level with the figure that Lewis Hamilton is believed to earn at Mercedes.
After winning the championship last year, Verstappen said he wanted to stay at Red Bull for life and the new deal, which is in addition to Verstappen's current Red Bull contract that runs until 2023, will see the 24-year-old remain at the team until he is 30.
"I really enjoy being part of the Oracle Red Bull Racing Team, so choosing to stay to the 2028 season was an easy decision," Verstappen said.