Four-time world champion Max Verstappen, after extending his contract with Red Bull, is set to establish a new record in Formula 1 for salary. The base salary of the Dutch driver will increase to approximately €92 million per year, and with bonuses, he could earn up to €115 million. This is reported by Mundo Deportivo.
How much will Max Verstappen earn at Red Bull
Verstappen's previous agreement with Red Bull was set to last until 2028. According to the publication, the parties have agreed to extend their cooperation until the end of the 2030 season.
The new contract includes a significant increase in the driver's base salary. Previously it was approximately €70 million per year, but under the new agreement, it is to rise to €92 million.
This amounts to about €7.67 million per month, €1.77 million per week, or over €252,000 per day, if we hypothetically distribute the annual salary over the calendar year.
However, €92 million is just the base part of the contract. The agreement also includes bonus payments related to Verstappen's performance. Considering all possible bonuses, his annual income could reach €115 million.
According to Mundo Deportivo, if the Dutchman receives the maximum contract payments over four years, from 2027 to 2030, he could earn about €460 million.
New salary record in Formula 1 history
Such a pay level will make Verstappen the highest-paid driver in the history of Formula 1. His new contract will also come close in scale to the largest deals in global professional sports.
For comparison, baseball player Juan Soto signed a 15-year contract with the New York Mets worth around €725 million. In Verstappen's case, the total amount is lower, but his potential average annual earnings are significantly higher due to the shorter duration of the deal.
Verstappen is a four-time Formula 1 world champion. The contract extension until 2030 means that Red Bull plans to keep the Dutchman as their key driver for several more seasons.
Recall that Lando Norris confidently won the 2026 Dutch Grand Prix of Formula 1.